Steward Partners Investment Advisory LLC purchased a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,366 shares of the company’s stock, valued at approximately $4,545,000.
Other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in shares of Mohawk Industries by 399.2% during the 2nd quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock worth $8,312,000 after acquiring an additional 27,503 shares during the period. Aviva PLC boosted its stake in Mohawk Industries by 1.1% in the 2nd quarter. Aviva PLC now owns 38,875 shares of the company’s stock worth $9,396,000 after purchasing an additional 410 shares during the period. Quantbot Technologies LP bought a new position in Mohawk Industries in the 3rd quarter worth about $5,281,000. Utah Retirement Systems boosted its stake in Mohawk Industries by 0.9% in the 2nd quarter. Utah Retirement Systems now owns 11,397 shares of the company’s stock worth $2,754,000 after purchasing an additional 100 shares during the period. Finally, American Century Companies Inc. bought a new position in Mohawk Industries in the 2nd quarter worth about $53,508,000. Institutional investors own 76.59% of the company’s stock.
Several research analysts have commented on the company. Jefferies Group assumed coverage on Mohawk Industries in a research note on Tuesday. They issued a “buy” rating and a $330.00 target price for the company. Barclays raised their target price 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 raised their target price 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 restated an “outperform” rating and issued a $300.00 target price (up previously from $291.00) on shares of Mohawk Industries in a research note on Monday, October 30th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $270.00 target price on shares of Mohawk Industries in a research note on Sunday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $285.15.
Shares of Mohawk Industries, Inc. (NYSE:MHK) traded down $1.95 on Friday, hitting $273.56. The stock had a trading volume of 453,300 shares, compared to its average volume of 485,135. The company has a market cap of $20,475.91, a P/E ratio of 20.48, a PEG ratio of 2.49 and a beta of 1.37. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23. Mohawk Industries, Inc. has a 12-month low of $196.50 and a 12-month high of $286.85.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, October 26th. The company reported $3.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.74 by $0.01. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $3.50 EPS. equities research analysts expect that Mohawk Industries, Inc. will post 13.52 EPS for the current year.
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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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