Schwab Charles Investment Management Inc. increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,364 shares of the company’s stock after buying an additional 7,476 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.29% of Mohawk Industries worth $52,563,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sun Life Financial INC boosted its stake in Mohawk Industries by 5,675.0% during the second quarter. Sun Life Financial INC now owns 462 shares of the company’s stock valued at $112,000 after buying an additional 454 shares in the last quarter. First Personal Financial Services lifted its holdings in shares of Mohawk Industries by 6.6% during the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after purchasing an additional 35 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Mohawk Industries by 18.6% during the second quarter. IFP Advisors Inc now owns 625 shares of the company’s stock valued at $151,000 after purchasing an additional 98 shares during the last quarter. First Manhattan Co. purchased a new stake in shares of Mohawk Industries during the second quarter valued at $160,000. Finally, Bridgewater Wealth & Financial Management LLC purchased a new stake in shares of Mohawk Industries during the second quarter valued at $203,000. Hedge funds and other institutional investors own 76.59% of the company’s stock.
Several equities research analysts recently issued reports on MHK shares. Barclays increased their price objective on Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a research note 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 stock a “neutral” rating in a research note on Monday, October 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $300.00 price objective (up from $291.00) on shares of Mohawk Industries in a research note on Monday, October 30th. Stifel Nicolaus reissued a “buy” rating and issued a $270.00 price objective on shares of Mohawk Industries in a research note on Sunday, October 29th. Finally, Zacks Investment Research downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $281.42.
Shares of Mohawk Industries, Inc. (NYSE MHK) traded down $3.39 during midday trading on Wednesday, hitting $281.26. The stock had a trading volume of 428,400 shares, compared to its average volume of 485,862. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. The firm has a market cap of $21,155.20, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.58 and a beta of 1.37. Mohawk Industries, Inc. has a fifty-two week low of $193.59 and a fifty-two week high of $286.85.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, October 26th. The company reported $3.75 EPS for the quarter, beating the Zacks’ consensus estimate of $3.74 by $0.01. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.50 EPS. analysts predict that Mohawk Industries, Inc. will post 13.52 earnings per share for the current year.
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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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