Meag Munich Ergo Kapitalanlagegesellschaft MBH Takes Position in Mohawk Industries, Inc. (MHK)

Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,755 shares of the company’s stock, valued at approximately $2,925,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Mohawk Industries by 3.3% during the second quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock valued at $1,494,654,000 after acquiring an additional 196,996 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Mohawk Industries by 8.9% during the second quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock valued at $1,215,567,000 after acquiring an additional 412,942 shares during the last quarter. BlackRock Inc. increased its position in shares of Mohawk Industries by 5.8% during the second quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock valued at $1,105,842,000 after acquiring an additional 250,944 shares during the last quarter. FMR LLC increased its position in shares of Mohawk Industries by 3.9% during the second quarter. FMR LLC now owns 2,796,757 shares of the company’s stock valued at $675,948,000 after acquiring an additional 105,920 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Mohawk Industries by 0.3% during the second quarter. Principal Financial Group Inc. now owns 1,211,095 shares of the company’s stock valued at $292,710,000 after acquiring an additional 4,001 shares during the last quarter. 76.19% of the stock is owned by institutional investors.

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Several equities analysts have weighed in on the company. Barclays PLC increased their price objective on Mohawk Industries from $285.00 to $301.00 and gave the company an “overweight” rating in a report on Monday, October 30th. J P Morgan Chase & Co increased their price objective on Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $300.00 price objective (up from $291.00) on shares of Mohawk Industries in a report on Monday, October 30th. Stifel Nicolaus reissued a “buy” rating and set a $270.00 price objective on shares of Mohawk Industries in a report on Sunday, October 29th. Finally, Nomura set a $300.00 price objective on Mohawk Industries and gave the company a “buy” rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $279.15.

Mohawk Industries, Inc. (MHK) opened at $265.02 on Tuesday. Mohawk Industries, Inc. has a twelve month low of $189.44 and a twelve month high of $268.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.77. The company has a market capitalization of $19,609.34, a price-to-earnings ratio of 19.62, a PEG ratio of 2.39 and a beta of 1.35.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, October 26th. The company reported $3.75 EPS for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.01. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the company earned $3.50 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. research analysts anticipate that Mohawk Industries, Inc. will post 13.52 EPS for the current fiscal year.

In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total value of $5,022,515.00. Following the completion of the transaction, the chairman now directly owns 21,396 shares of the company’s stock, valued at $5,454,910.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.00% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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