Trading Report: The Strs Ohio Acquires 496 Shares of Mohawk Industries Inc. (MHK)

The Strs Ohio Acquires 496 Shares of Mohawk Industries Inc. (MHK)

Strs Ohio increased its position in shares of Mohawk Industries Inc. (NYSE:MHK) by 8.7% during the second quarter, Holdings Channel reports. The fund owned 6,197 shares of the company’s stock after buying an additional 496 shares during the period. Strs Ohio’s holdings in Mohawk Industries were worth $1,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Checchi Capital Advisers LLC increased its stake in shares of Mohawk Industries by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 843 shares of the company’s stock valued at $160,000 after buying an additional 18 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Mohawk Industries during the first quarter valued at about $259,000. ING Groep NV acquired a new stake in shares of Mohawk Industries during the first quarter valued at about $286,000. Telemus Capital LLC acquired a new stake in shares of Mohawk Industries during the second quarter valued at about $380,000. Finally, P.R. Herzig & Co. Inc. acquired a new stake in shares of Mohawk Industries during the second quarter valued at about $380,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Inc. (NYSE:MHK) traded down 0.15% during trading on Thursday, reaching $194.90. The company had a trading volume of 572,238 shares. Mohawk Industries Inc. has a 52 week low of $148.56 and a 52 week high of $216.58. The company’s 50-day moving average is $205.26 and its 200 day moving average is $199.67. The firm’s market capitalization is $14.45 billion.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, August 4th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.36 by $0.11. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.34 billion. Mohawk Industries had a return on equity of 17.22% and a net margin of 9.65%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.69 earnings per share. Equities analysts anticipate that Mohawk Industries Inc. will post $12.46 EPS for the current year.

Several brokerages recently issued reports on MHK. Bank of America Corp. raised Mohawk Industries from a “neutral” rating to a “buy” rating and set a $235.00 target price on the stock in a research note on Wednesday. Wells Fargo & Co. started coverage on Mohawk Industries in a research note on Wednesday, September 28th. They set a “market perform” rating on the stock. Macquarie reaffirmed an “outperform” rating and issued a $228.00 price objective on shares of Mohawk Industries in a research note on Thursday, September 22nd. RBC Capital Markets reaffirmed an “outperform” rating and issued a $245.00 price objective (up previously from $220.00) on shares of Mohawk Industries in a research note on Wednesday, August 10th. Finally, Gabelli started coverage on Mohawk Industries in a research note on Tuesday, August 9th. They issued a “buy” rating on the stock. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Mohawk Industries presently has a consensus rating of “Buy” and an average target price of $224.75.

In related news, insider Suzanne L. Helen sold 4,600 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $216.00, for a total value of $993,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Carson sold 215 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $213.38, for a total value of $45,876.70. Following the completion of the sale, the insider now directly owns 30,929 shares of the company’s stock, valued at approximately $6,599,630.02. The disclosure for this sale can be found here. 17.10% of the stock is owned by insiders.

About Mohawk Industries

Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.

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