Global Thematic Partners LLC decreased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 20.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,716 shares of the company’s stock after selling 36,338 shares during the quarter. Global Thematic Partners LLC’s holdings in Mohawk Industries were worth $20,752,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its holdings in Mohawk Industries by 443.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 6,639 shares of the company’s stock valued at $979,000 after purchasing an additional 5,418 shares during the period. George Kaiser Family Foundation grew its holdings in Mohawk Industries by 11.1% during the second quarter. George Kaiser Family Foundation now owns 10,096 shares of the company’s stock valued at $1,489,000 after purchasing an additional 1,010 shares during the period. Moors & Cabot Inc. grew its holdings in Mohawk Industries by 16.5% during the second quarter. Moors & Cabot Inc. now owns 3,962 shares of the company’s stock valued at $581,000 after purchasing an additional 562 shares during the period. SeaBridge Investment Advisors LLC grew its holdings in Mohawk Industries by 22.5% during the second quarter. SeaBridge Investment Advisors LLC now owns 17,062 shares of the company’s stock valued at $2,516,000 after purchasing an additional 3,136 shares during the period. Finally, Hanson & Doremus Investment Management grew its holdings in Mohawk Industries by 24.6% during the second quarter. Hanson & Doremus Investment Management now owns 1,779 shares of the company’s stock valued at $262,000 after purchasing an additional 351 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.
MHK has been the subject of several recent research reports. ValuEngine raised Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. National Securities initiated coverage on Mohawk Industries in a report on Thursday, July 11th. They set a “buy” rating for the company. Robert W. Baird initiated coverage on Rocket Pharmaceuticals in a report on Monday, April 22nd. They set an “outperform” rating for the company. Zacks Investment Research lowered Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Longbow Research initiated coverage on H&E Equipment Services in a report on Friday, March 29th. They set a “buy” rating and a $34.00 price target for the company. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Mohawk Industries has an average rating of “Hold” and a consensus target price of $149.35.
MHK traded down $27.52 during trading on Friday, reaching $128.84. The company’s stock had a trading volume of 4,335,897 shares, compared to its average volume of 483,471. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $149.58. Mohawk Industries, Inc. has a 1 year low of $109.35 and a 1 year high of $196.30. The company has a market capitalization of $11.18 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 2.83 and a beta of 1.42.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 25th. The company reported $2.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.87 by $0.02. Mohawk Industries had a net margin of 7.73% and a return on equity of 11.36%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the company posted $3.51 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Mohawk Industries, Inc. will post 10.71 earnings per share for the current fiscal year.
In other news, insider Bernard Thiers sold 2,800 shares of Mohawk Industries stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $149.85, for a total transaction of $419,580.00. Following the sale, the insider now owns 43,559 shares of the company’s stock, valued at approximately $6,527,316.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Suzanne L. Helen sold 4,200 shares of Mohawk Industries stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $148.04, for a total transaction of $621,768.00. The disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock worth $4,481,028 over the last three months. Corporate insiders own 18.00% of the company’s stock.
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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