Quantbot Technologies LP Purchases New Holdings in Mohawk Industries, Inc. (MHK)
Quantbot Technologies LP purchased a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the third quarter, according to its most recent filing with the SEC. The firm purchased 21,340 shares of the company’s stock, valued at approximately $5,281,000.
Several other large investors also recently made changes to their positions in MHK. Sun Life Financial INC increased its holdings in shares of Mohawk Industries by 5,675.0% in the 2nd quarter. Sun Life Financial INC now owns 462 shares of the company’s stock valued at $112,000 after acquiring an additional 454 shares during the period. First Personal Financial Services increased its holdings in shares of Mohawk Industries by 6.6% in the 2nd quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after acquiring an additional 35 shares during the period. IFP Advisors Inc increased its holdings in shares of Mohawk Industries by 18.6% in the 2nd quarter. IFP Advisors Inc now owns 625 shares of the company’s stock valued at $151,000 after acquiring an additional 98 shares during the period. First Manhattan Co. purchased a new position in shares of Mohawk Industries in the 2nd quarter valued at $160,000. Finally, Bridgewater Wealth & Financial Management LLC purchased a new position in shares of Mohawk Industries in the 2nd quarter valued at $203,000. Institutional investors and hedge funds own 76.19% of the company’s stock.
Mohawk Industries, Inc. (NYSE:MHK) traded up $3.84 during trading on Thursday, hitting $270.94. The stock had a trading volume of 119,225 shares, compared to its average volume of 486,822. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.77. The firm has a market cap of $19,860.00, a PE ratio of 19.86, a price-to-earnings-growth ratio of 2.42 and a beta of 1.35. Mohawk Industries, Inc. has a 52-week low of $189.44 and a 52-week high of $268.46.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, October 26th. The company reported $3.75 EPS for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.01. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the firm posted $3.50 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. equities research analysts forecast that Mohawk Industries, Inc. will post 13.52 EPS for the current year.
A number of brokerages have recently issued reports on MHK. Barclays PLC lifted their price target on Mohawk Industries from $285.00 to $301.00 and gave the company an “overweight” rating in a report on Monday, October 30th. J P Morgan Chase & Co lifted their price target on Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $300.00 price target (up from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $270.00 price target on shares of Mohawk Industries in a report on Sunday, October 29th. Finally, Nomura set a $300.00 price target on Mohawk Industries and gave the company a “buy” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $281.42.
In other Mohawk Industries news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries stock in a transaction dated 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 completion of the sale, the chairman now owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.00% of the company’s stock.
Mohawk Industries 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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