Scout Investments Inc. trimmed its stake in Mohawk Industries (NYSE:MHK) by 23.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,617 shares of the company’s stock after selling 16,887 shares during the period. Scout Investments Inc. owned 0.08% of Mohawk Industries worth $13,148,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. NuWave Investment Management LLC bought a new position in shares of Mohawk Industries in the 4th quarter valued at approximately $117,000. Cerebellum GP LLC bought a new position in shares of Mohawk Industries in the 4th quarter valued at approximately $124,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Mohawk Industries in the 4th quarter valued at approximately $124,000. Rockefeller Capital Management L.P. acquired a new stake in Mohawk Industries in the 1st quarter valued at approximately $161,000. Finally, Calton & Associates Inc. acquired a new stake in Mohawk Industries in the 4th quarter valued at approximately $171,000. 78.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:MHK opened at $214.87 on Thursday. Mohawk Industries has a 1-year low of $206.74 and a 1-year high of $286.85. The company has a market cap of $16.05 billion, a PE ratio of 15.79, a PEG ratio of 1.36 and a beta of 1.38. The company has a current ratio of 1.54, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, April 26th. The company reported $3.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.00 by $0.01. Mohawk Industries had a return on equity of 15.05% and a net margin of 10.12%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm earned $2.72 EPS. Mohawk Industries’s revenue for the quarter was up 8.6% compared to the same quarter last year. research analysts expect that Mohawk Industries will post 15.46 EPS for the current year.
A number of analysts have issued reports on the company. Stifel Nicolaus lowered their target price on Mohawk Industries from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday, April 30th. Robert W. Baird set a $272.00 target price on Mohawk Industries and gave the company a “buy” rating in a report on Monday, April 30th. JPMorgan Chase & Co. lowered their target price on Mohawk Industries from $282.00 to $250.00 and set a “neutral” rating on the stock in a report on Tuesday, May 1st. Loop Capital lowered their target price on Mohawk Industries to $227.00 and set a “hold” rating on the stock in a report on Friday, April 27th. Finally, Credit Suisse Group lowered their target price on Mohawk Industries from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Mohawk Industries currently has a consensus rating of “Buy” and an average price target of $280.67.
In related news, CFO Frank H. Boykin sold 1,388 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $248.26, for a total transaction of $344,584.88. Following the completion of the transaction, the chief financial officer now owns 17,505 shares in the company, valued at approximately $4,345,791.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Frank H. Boykin sold 1,495 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $238.29, for a total value of $356,243.55. Following the transaction, the chief financial officer now owns 23,430 shares of the company’s stock, valued at approximately $5,583,134.70. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 102,157 shares of company stock valued at $21,387,408 and have sold 8,505 shares valued at $2,063,451. 16.80% of the stock is owned by company insiders.
Mohawk Industries Company Profile
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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