Harbour Capital Advisors LLC bought a new stake in Mohawk Industries Inc. (NYSE:MHK) during the second quarter, Holdings Channel reports. The fund bought 5,226 shares of the company’s stock, valued at approximately $992,000.
Other hedge funds have also made changes to their positions in the company. Kennedy Capital Management Inc. purchased a new position in Mohawk Industries during the first quarter valued at about $4,388,000. Renaissance Technologies LLC purchased a new position in Mohawk Industries during the first quarter valued at about $30,391,000. National Pension Service boosted its position in Mohawk Industries by 4.4% in the first quarter. National Pension Service now owns 39,612 shares of the company’s stock valued at $7,562,000 after buying an additional 1,684 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Mohawk Industries during the first quarter valued at about $1,483,000. Finally, Legal & General Group Plc boosted its position in Mohawk Industries by 1.3% in the first quarter. Legal & General Group Plc now owns 271,720 shares of the company’s stock valued at $51,870,000 after buying an additional 3,448 shares in the last quarter. Institutional investors own 79.52% of the company’s stock.
Shares of Mohawk Industries Inc. (NYSE:MHK) opened at 199.61 on Monday. The stock’s 50 day moving average price is $194.58 and its 200-day moving average price is $199.19. Mohawk Industries Inc. has a 52-week low of $148.56 and a 52-week high of $216.58. The firm’s market cap is $14.80 billion.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, November 3rd. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.04. Mohawk Industries had a return on equity of 17.22% and a net margin of 10.12%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the company posted $2.98 EPS. The business’s revenue was up 6.7% on a year-over-year basis. On average, analysts forecast that Mohawk Industries Inc. will post $12.57 EPS for the current year.
MHK has been the topic of several recent research reports. RBC Capital Markets reiterated an “outperform” rating and issued a $245.00 price target (up previously from $220.00) on shares of Mohawk Industries in a report on Wednesday, August 10th. MKM Partners raised their price target on Mohawk Industries from $244.00 to $246.00 and gave the company a “buy” rating in a report on Monday, August 8th. Zacks Investment Research upgraded Mohawk Industries from a “sell” rating to a “hold” rating and set a $238.00 price target on the stock in a report on Tuesday, August 9th. Wells Fargo & Co. initiated coverage on Mohawk Industries in a report on Wednesday, September 28th. They issued a “market perform” rating on the stock. Finally, Gabelli initiated coverage on Mohawk Industries in a report on Tuesday, August 9th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Mohawk Industries has an average rating of “Buy” and a consensus target price of $227.20.
In other Mohawk Industries news, insider Suzanne L. Helen sold 4,600 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is available at the SEC website. Also, insider Suzanne L. Helen sold 4,700 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $213.50, for a total value of $1,003,450.00. The disclosure for this sale can be found here. 17.10% of the stock is owned by company insiders.
Mohawk Industries Company Profile
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.