Picton Mahoney Asset Management Buys Shares of 9,500 Mohawk Industries, Inc. (NYSE:MHK)

Picton Mahoney Asset Management bought a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,500 shares of the company’s stock, valued at approximately $1,399,000.

A number of other institutional investors also recently modified their holdings of MHK. Pzena Investment Management LLC acquired a new stake in Mohawk Industries in the first quarter valued at approximately $172,158,000. FMR LLC boosted its position in Mohawk Industries by 20.9% in the first quarter. FMR LLC now owns 3,467,202 shares of the company’s stock valued at $437,387,000 after buying an additional 599,723 shares in the last quarter. Impala Asset Management LLC boosted its position in Mohawk Industries by 138.1% in the first quarter. Impala Asset Management LLC now owns 885,310 shares of the company’s stock valued at $111,682,000 after buying an additional 513,503 shares in the last quarter. Strs Ohio boosted its position in Mohawk Industries by 306.9% in the second quarter. Strs Ohio now owns 158,331 shares of the company’s stock valued at $23,349,000 after buying an additional 119,417 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in Mohawk Industries by 172.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 176,410 shares of the company’s stock valued at $22,252,000 after buying an additional 111,552 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

A number of brokerages have weighed in on MHK. National Securities began coverage on shares of Mohawk Industries in a research report on Thursday, July 11th. They issued a “buy” rating on the stock. Jefferies Financial Group upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $167.00 in a report on Tuesday, April 30th. JPMorgan Chase & Co. cut their price target on shares of Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating on the stock in a report on Monday, July 29th. Zacks Investment Research lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating and set a $131.00 price target on the stock. in a report on Thursday, August 1st. Finally, Nomura cut their price target on shares of Mohawk Industries from $176.00 to $167.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $141.41.

Shares of NYSE:MHK traded down $4.21 during mid-day trading on Friday, reaching $112.09. 534,605 shares of the company’s stock were exchanged, compared to its average volume of 1,085,801. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.29 and a beta of 1.38. The business’s fifty day moving average price is $132.33 and its 200-day moving average price is $135.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.66 and a current ratio of 1.30. Mohawk Industries, Inc. has a twelve month low of $108.93 and a twelve month high of $196.30.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 25th. The company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.02. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.65 billion. Mohawk Industries had a net margin of 7.79% and a return on equity of 10.50%. Mohawk Industries’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.51 earnings per share. Analysts predict that Mohawk Industries, Inc. will post 9.96 EPS for the current fiscal year.

In related news, insider Bernard Thiers sold 2,800 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $149.85, for a total value of $419,580.00. Following the transaction, the insider now owns 43,559 shares in the company, valued at $6,527,316.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Jeffrey S. Lorberbaum sold 18,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $142.76, for a total transaction of $2,569,680.00. Following the completion of the transaction, the chairman now owns 47,603 shares in the company, valued at approximately $6,795,804.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,000 shares of company stock worth $4,481,028. 18.00% of the stock is owned by company insiders.

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

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