Mid Atlantic Financial Management Inc. ADV bought a new position in Mohawk Industries, Inc. (NYSE:MHK) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,794 shares of the company’s stock, valued at approximately $284,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rosenberg Matthew Hamilton bought a new stake in shares of Mohawk Industries in the 2nd quarter valued at $31,000. Canada Pension Plan Investment Board increased its holdings in shares of Mohawk Industries by 510.1% in the first quarter. Canada Pension Plan Investment Board now owns 421 shares of the company’s stock worth $32,000 after acquiring an additional 352 shares in the last quarter. FDx Advisors Inc. acquired a new stake in shares of Mohawk Industries during the first quarter worth about $44,000. Oppenheimer Asset Management Inc. raised its position in shares of Mohawk Industries by 22.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 770 shares of the company’s stock worth $58,000 after purchasing an additional 142 shares during the period. Finally, Cutler Group LP lifted its holdings in shares of Mohawk Industries by 297.0% during the 1st quarter. Cutler Group LP now owns 796 shares of the company’s stock valued at $60,000 after purchasing an additional 1,200 shares in the last quarter. 76.15% of the stock is currently owned by institutional investors.
Several analysts have commented on MHK shares. Credit Suisse Group began coverage on shares of Mohawk Industries in a report on Wednesday, May 27th. They set an “underperform” rating and a $62.00 target price on the stock. Loop Capital raised their price objective on shares of Mohawk Industries from $75.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Raymond James cut their price objective on shares of Mohawk Industries from $140.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, April 20th. SunTrust Banks increased their target price on Mohawk Industries from $115.00 to $119.00 in a report on Wednesday, July 8th. Finally, Truist Financial dropped their price target on Mohawk Industries from $119.00 to $98.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $101.00.
Shares of MHK stock opened at $91.65 on Tuesday. The company has a fifty day moving average price of $86.14 and a two-hundred day moving average price of $94.99. Mohawk Industries, Inc. has a one year low of $56.62 and a one year high of $153.05. The stock has a market cap of $6.43 billion, a P/E ratio of 12.84, a P/E/G ratio of 3.52 and a beta of 1.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 1.51.
Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, August 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.46. Mohawk Industries had a net margin of 5.20% and a return on equity of 6.40%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $2.89 EPS. Mohawk Industries’s revenue was down 21.0% on a year-over-year basis. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 5.85 EPS for the current fiscal year.
In other news, insider Cock Paul F. De sold 4,453 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $84.28, for a total value of $375,298.84. Following the transaction, the insider now directly owns 23,175 shares of the company’s stock, valued at $1,953,189. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Suzanne L. Helen sold 13,600 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $97.74, for a total transaction of $1,329,264.00. The disclosure for this sale can be found here. 18.50% of the stock is owned by corporate insiders.
About Mohawk Industries
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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