Sterling Capital Management LLC Raises Holdings in Mohawk Industries, Inc. (MHK)

Sterling Capital Management LLC raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 5.4% in the second quarter, HoldingsChannel reports. The firm owned 7,591 shares of the company’s stock after buying an additional 391 shares during the period. Sterling Capital Management LLC’s holdings in Mohawk Industries were worth $1,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kiwi Wealth Investments Limited Partnership bought a new stake in shares of Mohawk Industries during the 2nd quarter worth $6,224,000. Raymond James & Associates boosted its stake in shares of Mohawk Industries by 14.1% during the 2nd quarter. Raymond James & Associates now owns 78,500 shares of the company’s stock worth $16,820,000 after acquiring an additional 9,675 shares in the last quarter. Shepherd Kaplan Krochuk LLC boosted its stake in shares of Mohawk Industries by 65.6% during the 2nd quarter. Shepherd Kaplan Krochuk LLC now owns 4,479 shares of the company’s stock worth $960,000 after acquiring an additional 1,774 shares in the last quarter. Epoch Investment Partners Inc. bought a new stake in shares of Mohawk Industries during the 2nd quarter worth $171,834,000. Finally, Tocqueville Asset Management L.P. boosted its stake in shares of Mohawk Industries by 19.2% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 2,145 shares of the company’s stock worth $460,000 after acquiring an additional 345 shares in the last quarter. 81.58% of the stock is owned by hedge funds and other institutional investors.

Shares of Mohawk Industries stock opened at $187.10 on Monday. The firm has a market capitalization of $13.84 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.96 and a beta of 1.31. The company has a quick ratio of 0.99, a current ratio of 1.74 and a debt-to-equity ratio of 0.26. Mohawk Industries, Inc. has a 12 month low of $177.00 and a 12 month high of $286.85.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Wednesday, July 25th. The company reported $3.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.90 by ($0.39). The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.59 billion. Mohawk Industries had a return on equity of 14.35% and a net margin of 9.34%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $3.72 EPS. analysts predict that Mohawk Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

In other news, Director Filip Balcaen acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The stock was acquired at an average cost of $183.02 per share, for a total transaction of $9,151,000.00. Following the completion of the acquisition, the director now owns 776 shares in the company, valued at $142,023.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard Thiers sold 5,000 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $190.00, for a total value of $950,000.00. Following the sale, the insider now owns 40,156 shares of the company’s stock, valued at $7,629,640. The disclosure for this sale can be found here. In the last ninety days, insiders bought 110,000 shares of company stock valued at $20,167,250. 16.80% of the stock is currently owned by insiders.

Several equities research analysts have recently weighed in on MHK shares. Gabelli reissued a “buy” rating on shares of Mohawk Industries in a research note on Friday, July 27th. Northcoast Research set a $225.00 price objective on Mohawk Industries and gave the stock a “buy” rating in a research note on Friday, July 27th. Robert W. Baird reissued a “buy” rating and set a $212.00 price objective on shares of Mohawk Industries in a research note on Friday, July 27th. Stifel Nicolaus reduced their price objective on Mohawk Industries from $290.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Finally, SunTrust Banks reissued a “buy” rating and set a $270.00 price objective on shares of Mohawk Industries in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $254.07.

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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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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