Morgan Stanley lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 257,978 shares of the company’s stock after buying an additional 20,294 shares during the quarter. Morgan Stanley owned 0.36% of Mohawk Industries worth $19,668,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. boosted its holdings in Mohawk Industries by 172.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 176,410 shares of the company’s stock worth $22,252,000 after acquiring an additional 111,552 shares during the period. Sei Investments Co. lifted its position in shares of Mohawk Industries by 78.4% during the fourth quarter. Sei Investments Co. now owns 4,324 shares of the company’s stock worth $589,000 after purchasing an additional 1,900 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Mohawk Industries by 43.4% in the fourth quarter. Victory Capital Management Inc. now owns 30,765 shares of the company’s stock valued at $4,196,000 after purchasing an additional 9,310 shares during the period. CI Investments Inc. grew its holdings in Mohawk Industries by 897.2% during the 4th quarter. CI Investments Inc. now owns 1,057 shares of the company’s stock valued at $144,000 after purchasing an additional 951 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Mohawk Industries by 27.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 50,319 shares of the company’s stock worth $6,863,000 after buying an additional 10,741 shares during the period. 76.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on MHK. Nomura Securities lifted their target price on Mohawk Industries from $85.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Credit Suisse Group started coverage on Mohawk Industries in a report on Wednesday, May 27th. They set an “underperform” rating and a $62.00 price objective on the stock. Jefferies Financial Group cut Mohawk Industries from a “buy” rating to a “hold” rating and reduced their target price for the company from $110.00 to $74.00 in a research note on Friday, April 3rd. ValuEngine upgraded shares of Mohawk Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Finally, SunTrust Banks increased their price objective on shares of Mohawk Industries from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Mohawk Industries currently has a consensus rating of “Hold” and an average target price of $105.22.
In other news, insider Cock Paul F. De sold 4,453 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $84.28, for a total value of $375,298.84. Following the completion of the transaction, the insider now owns 23,175 shares of the company’s stock, valued at $1,953,189. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Suzanne L. Helen sold 13,600 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $97.74, for a total value of $1,329,264.00. The disclosure for this sale can be found here. 18.50% of the stock is currently owned by company insiders.
Shares of NYSE MHK opened at $99.80 on Wednesday. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 2.43 and a beta of 1.53. The stock’s 50 day simple moving average is $93.13 and its 200 day simple moving average is $106.97. The company has a current ratio of 1.61, a quick ratio of 0.84 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12-month low of $56.62 and a 12-month high of $156.60.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Monday, May 4th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.01). The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.29 billion. Mohawk Industries had a return on equity of 8.75% and a net margin of 7.47%. The firm’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.13 EPS. As a group, equities analysts forecast that Mohawk Industries, Inc. will post 3.94 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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