Covey Capital Advisors LLC Has $3.44 Million Position in Mohawk Industries (MHK)
Covey Capital Advisors LLC increased its holdings in Mohawk Industries (NYSE:MHK) by 13.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,824 shares of the company’s stock after acquiring an additional 1,765 shares during the quarter. Mohawk Industries comprises approximately 4.7% of Covey Capital Advisors LLC’s portfolio, making the stock its 4th biggest position. Covey Capital Advisors LLC’s holdings in Mohawk Industries were worth $3,442,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MHK. BlackRock Inc. lifted its stake in Mohawk Industries by 21.3% in the first quarter. BlackRock Inc. now owns 6,123,416 shares of the company’s stock worth $1,421,979,000 after acquiring an additional 1,077,259 shares during the period. Standard Life Aberdeen plc lifted its stake in Mohawk Industries by 5,674.0% in the fourth quarter. Standard Life Aberdeen plc now owns 895,139 shares of the company’s stock worth $246,982,000 after acquiring an additional 879,636 shares during the period. Hound Partners LLC lifted its stake in Mohawk Industries by 85.4% in the first quarter. Hound Partners LLC now owns 1,350,055 shares of the company’s stock worth $313,510,000 after acquiring an additional 622,002 shares during the period. Neuberger Berman Group LLC lifted its stake in Mohawk Industries by 307.0% in the first quarter. Neuberger Berman Group LLC now owns 288,916 shares of the company’s stock worth $67,128,000 after acquiring an additional 217,934 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Mohawk Industries by 16.2% during the fourth quarter. Wells Fargo & Company MN now owns 1,013,789 shares of the company’s stock valued at $279,705,000 after buying an additional 141,022 shares during the period. 78.56% of the stock is owned by institutional investors.
In related news, Director Filip Balcaen purchased 25,912 shares of the stock in a transaction dated Monday, May 14th. The stock was purchased at an average price of $209.89 per share, with a total value of $5,438,669.68. Following the transaction, the director now directly owns 776 shares in the company, valued at $162,874.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Frank H. Boykin sold 1,388 shares of Mohawk Industries stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $248.26, for a total value of $344,584.88. Following the completion of the transaction, the chief financial officer now directly owns 17,505 shares of the company’s stock, valued at approximately $4,345,791.30. The disclosure for this sale can be found here. In the last ninety days, insiders bought 102,157 shares of company stock valued at $21,387,408. 16.80% of the stock is owned by insiders.
Mohawk Industries opened at $210.44 on Monday, according to MarketBeat. The company has a quick ratio of 0.81, a current ratio of 1.54 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $15.70 billion, a PE ratio of 15.46, a P/E/G ratio of 1.33 and a beta of 1.37. Mohawk Industries has a 1 year low of $202.75 and a 1 year high of $286.85.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, April 26th. The company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.40 billion. Mohawk Industries had a return on equity of 15.05% and a net margin of 10.12%. Mohawk Industries’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.72 EPS. sell-side analysts forecast that Mohawk Industries will post 15.42 earnings per share for the current fiscal year.
Mohawk Industries Company Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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