Toronto Dominion Bank boosted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,218 shares of the company’s stock after buying an additional 3,250 shares during the period. Toronto Dominion Bank’s holdings in Mohawk Industries were worth $7,510,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in shares of Mohawk Industries by 399.2% in the 2nd quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock valued at $8,312,000 after purchasing an additional 27,503 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Mohawk Industries in the 2nd quarter valued at approximately $221,000. Dynamic Technology Lab Private Ltd boosted its stake in shares of Mohawk Industries by 52.6% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 2,136 shares of the company’s stock valued at $516,000 after purchasing an additional 736 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Mohawk Industries by 18.0% in the 2nd quarter. Lord Abbett & CO. LLC now owns 35,339 shares of the company’s stock valued at $8,541,000 after purchasing an additional 5,379 shares in the last quarter. Finally, Shell Asset Management Co. boosted its stake in shares of Mohawk Industries by 172.4% in the 3rd quarter. Shell Asset Management Co. now owns 9,813 shares of the company’s stock valued at $1,323,000 after purchasing an additional 6,211 shares in the last quarter. Hedge funds and other institutional investors own 78.49% of the company’s stock.
MHK has been the topic of a number of research analyst reports. Barclays raised their price target on shares of Mohawk Industries from $285.00 to $301.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Credit Suisse Group restated an “outperform” rating and issued a $310.00 price target (up from $303.00) on shares of Mohawk Industries in a research note on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a research note on Monday, January 8th. Finally, Nomura set a $300.00 price target on shares of Mohawk Industries and gave the company a “buy” rating in a research note on Friday, October 27th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $295.62.
In related news, Director William Henry Runge III acquired 500 shares of Mohawk Industries stock in a transaction dated Wednesday, February 14th. The stock was bought at an average price of $250.87 per share, with a total value of $125,435.00. Following the transaction, the director now directly owns 2,335 shares in the company, valued at approximately $585,781.45. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 17.00% of the company’s stock.
Mohawk Industries, Inc. (NYSE:MHK) opened at $249.76 on Monday. The company has a current ratio of 1.53, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a fifty-two week low of $219.22 and a fifty-two week high of $286.85. The stock has a market cap of $18,562.17, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.76 and a beta of 1.26.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 8th. The company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.10. Mohawk Industries had a net margin of 10.24% and a return on equity of 15.44%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business earned $3.26 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. sell-side analysts forecast that Mohawk Industries, Inc. will post 15.54 earnings per share for the current year.
About Mohawk Industries
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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