Columbia Asset Management lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 22.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,094 shares of the company’s stock after purchasing an additional 755 shares during the quarter. Columbia Asset Management’s holdings in Mohawk Industries were worth $989,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of MHK. BlackRock Inc. boosted its holdings in shares of Mohawk Industries by 3,286.0% during the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock worth $992,431,000 after purchasing an additional 4,196,790 shares during the last quarter. Harbour Capital Advisors LLC raised its position in shares of Mohawk Industries by 23,742.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,006,397 shares of the company’s stock worth $4,164,000 after buying an additional 1,002,176 shares during the period. JPMorgan Chase & Co. raised its position in shares of Mohawk Industries by 8.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock worth $1,215,567,000 after buying an additional 412,942 shares during the period. Glenview Capital Management LLC purchased a new position in shares of Mohawk Industries in the 1st quarter worth $82,361,000. Finally, Wells Fargo & Company MN raised its position in shares of Mohawk Industries by 143.5% in the 2nd quarter. Wells Fargo & Company MN now owns 596,358 shares of the company’s stock worth $144,133,000 after buying an additional 351,457 shares during the period. Institutional investors and hedge funds own 76.97% of the company’s stock.
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In related news, VP Rodney David Patton sold 137 shares of Mohawk Industries stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $246.78, for a total transaction of $33,808.86. Following the sale, the vice president now directly owns 6,924 shares of the company’s stock, valued at approximately $1,708,704.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the sale, the chairman now directly owns 21,396 shares in the company, valued at $5,454,910.20. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE MHK) traded up 0.36% during mid-day trading on Friday, hitting $254.67. The stock had a trading volume of 484,211 shares. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $259.91. The company’s market cap is $18.93 billion. The firm’s 50 day moving average price is $251.03 and its 200-day moving average price is $239.71.
Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.60 by $0.12. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.47 EPS. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post $13.52 earnings per share for the current fiscal year.
Several research analysts recently weighed in on MHK shares. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $291.00 target price on shares of Mohawk Industries in a research report on Monday, July 31st. BidaskClub raised Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price objective on the stock in a research report on Tuesday, July 4th. Finally, Credit Suisse Group assumed coverage on Mohawk Industries in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price objective on the stock. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Mohawk Industries presently has a consensus rating of “Buy” and a consensus price target of $266.64.
Mohawk Industries Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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