Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its position in Mohawk Industries (NYSE:MHK) by 8.4% during the 1st quarter, Holdings Channel reports. The firm owned 8,832 shares of the company’s stock after selling 810 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Mohawk Industries were worth $2,051,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. CHURCHILL MANAGEMENT Corp lifted its position in shares of Mohawk Industries by 4.8% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 27,208 shares of the company’s stock valued at $7,507,000 after acquiring an additional 1,241 shares in the last quarter. Daiwa SB Investments Ltd. purchased a new stake in shares of Mohawk Industries in the fourth quarter valued at $199,000. KAMES CAPITAL plc lifted its position in shares of Mohawk Industries by 1,816.2% in the fourth quarter. KAMES CAPITAL plc now owns 215,529 shares of the company’s stock valued at $59,467,000 after acquiring an additional 204,281 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Mohawk Industries by 0.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 30,845 shares of the company’s stock valued at $8,510,000 after acquiring an additional 200 shares in the last quarter. Finally, Pennsylvania Trust Co lifted its position in shares of Mohawk Industries by 6.5% in the fourth quarter. Pennsylvania Trust Co now owns 3,365 shares of the company’s stock valued at $928,000 after acquiring an additional 205 shares in the last quarter. 78.16% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on MHK. ValuEngine downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. JPMorgan Chase reduced their target price on Mohawk Industries from $282.00 to $250.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 1st. Barclays set a $278.00 target price on Mohawk Industries and gave the stock a “buy” rating in a research report on Monday, April 30th. Royal Bank of Canada reduced their target price on Mohawk Industries to $284.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 1st. Finally, Robert W. Baird set a $272.00 target price on Mohawk Industries and gave the stock a “buy” rating in a research report on Monday, April 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $280.67.
NYSE MHK opened at $210.38 on Thursday. The firm has a market capitalization of $15.92 billion, a PE ratio of 15.35, a P/E/G ratio of 1.35 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 1.54.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, April 26th. The company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.40 billion. Mohawk Industries had a return on equity of 15.05% and a net margin of 10.12%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $2.72 EPS. analysts predict that Mohawk Industries will post 15.46 EPS for the current fiscal year.
In other news, Director Filip Balcaen acquired 66,199 shares of the business’s stock in a transaction dated Tuesday, May 1st. The shares were bought at an average cost of $209.08 per share, for a total transaction of $13,840,886.92. Following the acquisition, the director now directly owns 776 shares in the company, valued at approximately $162,246.08. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, VP Rodney David Patton sold 911 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $236.00, for a total value of $214,996.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,595 shares of company stock worth $8,603,365. Company insiders own 16.80% of the company’s stock.
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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