Pensionfund Sabic Acquires New Position in Mohawk Industries, Inc. (MHK)

Pensionfund Sabic acquired a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,000 shares of the company’s stock, valued at approximately $1,655,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Mohawk Industries by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock worth $1,494,654,000 after acquiring an additional 196,996 shares during the period. BlackRock Inc. increased its holdings in shares of Mohawk Industries by 5.8% in the 2nd quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock worth $1,105,842,000 after acquiring an additional 250,944 shares during the period. FMR LLC increased its holdings in shares of Mohawk Industries by 3.9% in the 2nd quarter. FMR LLC now owns 2,796,757 shares of the company’s stock worth $675,948,000 after acquiring an additional 105,920 shares during the period. Ruane Cunniff & Goldfarb Inc. increased its holdings in shares of Mohawk Industries by 4.9% in the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,377,558 shares of the company’s stock worth $340,959,000 after acquiring an additional 64,707 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Mohawk Industries by 4.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,119,683 shares of the company’s stock worth $277,137,000 after acquiring an additional 47,261 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Mohawk Industries, Inc. (NYSE MHK) traded down $0.24 during trading on Tuesday, reaching $275.90. 311,600 shares of the company’s stock traded hands, compared to its average volume of 484,580. The firm has a market cap of $20,504.90, a PE ratio of 21.39, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. Mohawk Industries, Inc. has a 52-week low of $198.45 and a 52-week high of $286.85.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 26th. The company reported $3.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.74 by $0.01. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. Mohawk Industries’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $3.50 EPS. equities research analysts anticipate that Mohawk Industries, Inc. will post 13.52 earnings per share for the current year.

MHK has been the topic of a number of analyst reports. Barclays increased their price objective on shares of Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. ValuEngine raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Northcoast Research initiated coverage on shares of Mohawk Industries in a report on Thursday, October 5th. They issued a “buy” rating and a $295.00 price objective on the stock. Finally, Nomura set a $300.00 price objective on shares of Mohawk Industries and gave the stock a “buy” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $289.33.

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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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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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