CIBC World Markets Inc. increased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,396 shares of the company’s stock after buying an additional 114 shares during the quarter. CIBC World Markets Inc.’s holdings in Mohawk Industries were worth $1,304,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Mohawk Industries during the 1st quarter worth $1,278,000. Bank of Nova Scotia raised its position in Mohawk Industries by 23.2% in the first quarter. Bank of Nova Scotia now owns 21,824 shares of the company’s stock valued at $5,009,000 after purchasing an additional 4,108 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Mohawk Industries by 1.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 87,639 shares of the company’s stock valued at $21,181,000 after purchasing an additional 1,478 shares during the last quarter. Aviva PLC raised its position in Mohawk Industries by 1.1% in the second quarter. Aviva PLC now owns 38,875 shares of the company’s stock valued at $9,396,000 after purchasing an additional 410 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in Mohawk Industries in the second quarter valued at about $53,508,000. Institutional investors and hedge funds own 76.97% of the company’s stock.
In other Mohawk Industries news, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $246.78, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the transaction, the chairman now owns 21,396 shares in the company, valued at approximately $5,454,910.20. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by corporate insiders.
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Shares of Mohawk Industries, Inc. (NYSE:MHK) opened at 253.82 on Friday. The company’s 50-day moving average price is $250.57 and its 200 day moving average price is $239.52. The firm’s market cap is $18.87 billion. Mohawk Industries, Inc. has a 1-year low of $175.52 and a 1-year high of $259.91.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the business earned $3.47 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts predict that Mohawk Industries, Inc. will post $13.52 EPS for the current year.
Several research firms have commented on MHK. ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Zacks Investment Research downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. MKM Partners reiterated a “buy” rating and issued a $286.00 target price (up from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “buy” rating and issued a $291.00 target price on shares of Mohawk Industries in a research report on Monday, July 31st. Finally, BidaskClub downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Mohawk Industries currently has a consensus rating of “Buy” and an average price target of $266.64.
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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