Tocqueville Asset Management L.P. Has $18.96 Million Stake in Mohawk Industries, Inc. (MHK)

Tocqueville Asset Management L.P. grew its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 234.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,285 shares of the company’s stock after purchasing an additional 105,315 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.21% of Mohawk Industries worth $18,958,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc grew 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 purchasing an additional 29,538 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Mohawk Industries by 5.6% during the 4th quarter. BlackRock Inc. now owns 4,221,721 shares of the company’s stock worth $493,771,000 after acquiring an additional 223,512 shares in the last quarter. FMR LLC boosted its stake in shares of Mohawk Industries by 16.3% during the 4th quarter. FMR LLC now owns 2,867,479 shares of the company’s stock worth $335,381,000 after acquiring an additional 402,710 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Mohawk Industries by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,183,033 shares of the company’s stock worth $138,375,000 after acquiring an additional 30,054 shares in the last quarter. Finally, Fir Tree Capital Management LP bought a new stake in shares of Mohawk Industries during the 4th quarter worth about $122,785,000. 80.64% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on MHK shares. SunTrust Banks upped their price target on Mohawk Industries to $150.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. They noted that the move was a valuation call. Zacks Investment Research upgraded Mohawk Industries from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Buckingham Research began coverage on Mohawk Industries in a research report on Friday, February 1st. They set an “underperform” rating and a $116.00 price objective for the company. Wells Fargo & Co increased their target price on Mohawk Industries from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Monday, February 11th. Finally, Loop Capital increased their target price on Mohawk Industries to $126.00 and gave the stock an “underperform” rating in a report on Friday, February 8th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $149.53.

NYSE MHK traded up $4.19 during trading hours on Friday, reaching $145.90. 1,247,609 shares of the company’s stock were exchanged, compared to its average volume of 823,807. The firm has a market cap of $10.21 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 2.57 and a beta of 1.53. 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, Inc. has a one year low of $109.35 and a one year high of $228.49.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, April 25th. The company reported $2.13 EPS for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.06. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.50 billion. Mohawk Industries had a return on equity of 11.36% and a net margin of 7.73%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $3.01 EPS. As a group, equities analysts expect that Mohawk Industries, Inc. will post 10.77 earnings per share for the current year.

In other Mohawk Industries news, VP Rodney David Patton sold 2,260 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total value of $301,710.00. Following the transaction, the vice president now directly owns 9,134 shares in the company, valued at approximately $1,219,389. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.00% of the stock is currently owned by company insiders.

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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).

See Also: Depreciation

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

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