Psagot Investment House Ltd. bought a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 29,988 shares of the company’s stock, valued at approximately $3,783,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MHK. Bank of New York Mellon Corp raised its holdings in Mohawk Industries by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 430,950 shares of the company’s stock worth $75,568,000 after acquiring an additional 1,279 shares in the last quarter. Macquarie Group Ltd. raised its stake in Mohawk Industries by 13.2% in the third quarter. Macquarie Group Ltd. now owns 25,300 shares of the company’s stock valued at $4,436,000 after buying an additional 2,950 shares during the period. Kentucky Retirement Systems bought a new stake in Mohawk Industries in the third quarter valued at approximately $750,000. Legal & General Group Plc raised its stake in Mohawk Industries by 11.4% in the third quarter. Legal & General Group Plc now owns 330,596 shares of the company’s stock valued at $57,970,000 after buying an additional 33,749 shares during the period. Finally, Vanguard Group Inc raised its stake in Mohawk Industries by 0.5% in the third quarter. Vanguard Group Inc now owns 6,421,024 shares of the company’s stock valued at $1,125,927,000 after buying an additional 29,538 shares during the period. 81.58% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MHK traded down $0.54 during trading hours on Wednesday, reaching $140.49. 596,643 shares of the company were exchanged, compared to its average volume of 876,386. The company has a market capitalization of $10.04 billion, a P/E ratio of 11.39, a P/E/G ratio of 2.50 and a beta of 1.53. Mohawk Industries, Inc. has a 1-year low of $109.35 and a 1-year high of $228.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.37 and a quick ratio of 0.68.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $2.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.06. Mohawk Industries had a return on equity of 11.36% and a net margin of 7.73%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business posted $3.01 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Mohawk Industries, Inc. will post 10.77 EPS for the current fiscal year.
In other Mohawk Industries news, VP Rodney David Patton sold 2,260 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total transaction of $301,710.00. Following the completion of the sale, the vice president now directly owns 9,134 shares in the company, valued at $1,219,389. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.00% of the stock is owned by corporate insiders.
Several analysts have issued reports on MHK shares. SunTrust Banks upped their price objective on Mohawk Industries to $150.00 and gave the company a “buy” rating in a research note on Monday, February 11th. They noted that the move was a valuation call. Robert W. Baird set a $156.00 price objective on Mohawk Industries and gave the company a “buy” rating in a research note on Monday, April 22nd. Jefferies Financial Group upgraded Mohawk Industries from a “hold” rating to a “buy” rating and upped their price objective for the company from $145.00 to $167.00 in a research note on Tuesday, April 30th. Stifel Nicolaus upgraded Mohawk Industries from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $180.00 in a research note on Wednesday, May 15th. Finally, Zacks Investment Research upgraded Mohawk Industries from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Mohawk Industries has a consensus rating of “Hold” and a consensus price target of $149.53.
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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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