Mohawk Industries, Inc. (MHK) Position Cut by Rampart Investment Management Company LLC
Rampart Investment Management Company LLC trimmed its position in Mohawk Industries, Inc. (NYSE:MHK) by 93.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,730 shares of the company’s stock after selling 25,509 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Mohawk Industries were worth $371,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. bought a new stake in shares of Mohawk Industries during the first quarter worth $161,000. Captrust Financial Advisors grew its stake in shares of Mohawk Industries by 2,250.0% during the second quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock worth $151,000 after buying an additional 675 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Mohawk Industries during the second quarter worth $159,000. NuWave Investment Management LLC grew its stake in shares of Mohawk Industries by 686.4% during the second quarter. NuWave Investment Management LLC now owns 810 shares of the company’s stock worth $173,000 after buying an additional 707 shares during the last quarter. Finally, Cerebellum GP LLC grew its stake in shares of Mohawk Industries by 292.6% during the second quarter. Cerebellum GP LLC now owns 844 shares of the company’s stock worth $181,000 after buying an additional 629 shares during the last quarter. 81.58% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on MHK. ValuEngine cut shares of Mohawk Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. Raymond James cut shares of Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a research note on Friday, July 27th. Jefferies Financial Group decreased their target price on shares of Mohawk Industries from $294.00 to $268.00 and set a “buy” rating on the stock in a research note on Tuesday, July 31st. Credit Suisse Group decreased their target price on shares of Mohawk Industries from $275.00 to $220.00 and set an “outperform” rating on the stock in a research note on Friday, July 27th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $270.00 target price on shares of Mohawk Industries in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $254.07.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Wednesday, July 25th. The company reported $3.51 EPS for the quarter, missing analysts’ consensus estimates of $3.90 by ($0.39). The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.59 billion. Mohawk Industries had a return on equity of 14.35% and a net margin of 9.34%. Mohawk Industries’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.72 EPS. equities analysts anticipate that Mohawk Industries, Inc. will post 13.71 earnings per share for the current year.
In related news, insider Bernard Thiers sold 10,000 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $212.60, for a total value of $2,126,000.00. Following the transaction, the insider now owns 45,156 shares in the company, valued at $9,600,165.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Filip Balcaen bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was purchased at an average price of $184.80 per share, for a total transaction of $4,620,000.00. Following the acquisition, the director now owns 776 shares of the company’s stock, valued at $143,404.80. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 110,000 shares of company stock worth $20,167,250. 16.80% of the stock is owned by company insiders.
About Mohawk Industries
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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