Deutsche Bank AG reduced its stake in Mohawk Industries (NYSE:MHK) by 30.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,010 shares of the company’s stock after selling 65,807 shares during the period. Deutsche Bank AG owned 0.20% of Mohawk Industries worth $41,936,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Saybrook Capital NC boosted its stake in shares of Mohawk Industries by 2.7% during the fourth quarter. Saybrook Capital NC now owns 30,505 shares of the company’s stock valued at $8,416,000 after purchasing an additional 800 shares in the last quarter. Brandywine Global Investment Management LLC boosted its stake in shares of Mohawk Industries by 3.3% during the fourth quarter. Brandywine Global Investment Management LLC now owns 67,516 shares of the company’s stock valued at $18,628,000 after purchasing an additional 2,186 shares in the last quarter. Caxton Associates LP boosted its stake in shares of Mohawk Industries by 105.1% during the fourth quarter. Caxton Associates LP now owns 40,000 shares of the company’s stock valued at $11,036,000 after purchasing an additional 20,500 shares in the last quarter. Dynamic Capital Management Ltd boosted its stake in shares of Mohawk Industries by 37.6% during the fourth quarter. Dynamic Capital Management Ltd now owns 1,470 shares of the company’s stock valued at $406,000 after purchasing an additional 402 shares in the last quarter. Finally, Quantitative Investment Management LLC bought a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $13,298,000. Institutional investors and hedge funds own 78.68% of the company’s stock.
Shares of NYSE MHK traded down $3.42 during midday trading on Friday, reaching $236.08. The company had a trading volume of 606,586 shares, compared to its average volume of 689,345. The stock has a market cap of $17,570.25, a P/E ratio of 17.35, a P/E/G ratio of 1.65 and a beta of 1.36. Mohawk Industries has a 1 year low of $223.99 and a 1 year high of $286.85. 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 (NYSE:MHK) last posted its quarterly earnings results on Thursday, February 8th. The company reported $3.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.32 by $0.10. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Mohawk Industries had a net margin of 10.24% and a return on equity of 15.44%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $3.26 earnings per share. sell-side analysts forecast that Mohawk Industries will post 15.65 earnings per share for the current year.
In other Mohawk Industries news, Director William Henry Runge III bought 500 shares of Mohawk Industries stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average price of $250.87 per share, with a total value of $125,435.00. Following the completion of the acquisition, the director now directly owns 2,335 shares in the company, valued at approximately $585,781.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Frank H. Boykin sold 1,388 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 17,505 shares of the company’s stock, valued at approximately $4,345,791.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,595 shares of company stock valued at $8,603,365. Corporate insiders own 17.00% of the company’s stock.
A number of research firms recently commented on MHK. Jefferies Group began coverage on shares of Mohawk Industries in a research report on Tuesday, December 12th. They set a “buy” rating and a $330.00 target price for the company. Credit Suisse Group reissued an “outperform” rating and set a $310.00 target price (up previously from $303.00) on shares of Mohawk Industries in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $312.00 target price for the company in a research report on Friday, January 19th. ValuEngine cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Loop Capital began coverage on shares of Mohawk Industries in a research report on Thursday, March 1st. They set a “hold” rating and a $261.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $293.07.
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Mohawk Industries 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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