Nationwide Fund Advisors Lowers Holdings in Mohawk Industries, Inc. (MHK)
Nationwide Fund Advisors decreased its position in Mohawk Industries, Inc. (NYSE:MHK) by 1.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 126,543 shares of the company’s stock after selling 1,769 shares during the period. Nationwide Fund Advisors owned about 0.17% of Mohawk Industries worth $30,584,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MHK. BlackRock Inc. grew its holdings in Mohawk Industries by 3,286.0% in the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock valued at $992,431,000 after purchasing an additional 4,196,790 shares during the last quarter. Harbour Capital Advisors LLC grew its holdings in Mohawk Industries by 23,742.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,006,397 shares of the company’s stock valued at $4,164,000 after purchasing an additional 1,002,176 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Mohawk Industries by 8.9% in the second quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock valued at $1,215,567,000 after purchasing an additional 412,942 shares during the last quarter. Glenview Capital Management LLC acquired a new stake in Mohawk Industries in the first quarter valued at $82,361,000. Finally, Wells Fargo & Company MN grew its holdings in Mohawk Industries by 143.5% in the second quarter. Wells Fargo & Company MN now owns 596,358 shares of the company’s stock valued at $144,133,000 after purchasing an additional 351,457 shares during the last quarter. 76.97% of the stock is currently owned by institutional investors.
Several analysts have weighed in on MHK shares. BidaskClub raised Mohawk Industries from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Tuesday, July 4th. Credit Suisse Group started coverage on Mohawk Industries in a report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $267.00 target price on shares of Mohawk Industries in a report on Monday, July 24th. Finally, ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $266.64.
In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the transaction, the chairman now owns 21,396 shares in the company, valued at $5,454,910.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rodney David Patton sold 137 shares of Mohawk Industries stock in a transaction on Friday, August 11th. The shares were sold at an average price of $246.78, for a total value of $33,808.86. Following the transaction, the vice president now owns 6,924 shares in the company, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.
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Mohawk Industries, Inc. (NYSE MHK) traded up 0.36% during mid-day trading on Friday, hitting $254.67. The company had a trading volume of 484,211 shares. The company’s market cap is $18.93 billion. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $259.91. The company’s 50 day moving average price is $251.03 and its 200-day moving average price is $239.71.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.12. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. Mohawk Industries’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.47 earnings per share. Equities research analysts anticipate that Mohawk Industries, Inc. will post $13.52 EPS for the current fiscal year.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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