AMP Capital Investors Ltd Has $3.84 Million Stake in Mohawk Industries, Inc. (MHK)

AMP Capital Investors Ltd decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,929 shares of the company’s stock after selling 399 shares during the quarter. AMP Capital Investors Ltd’s holdings in Mohawk Industries were worth $3,840,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MHK. Captrust Financial Advisors boosted its holdings in shares of Mohawk Industries by 2,250.0% during the second quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock worth $151,000 after purchasing an additional 675 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Mohawk Industries in the second quarter valued at $159,000. Rockefeller Capital Management L.P. acquired a new position in Mohawk Industries in the first quarter valued at $161,000. NuWave Investment Management LLC boosted its holdings in Mohawk Industries by 686.4% in the second quarter. NuWave Investment Management LLC now owns 810 shares of the company’s stock valued at $173,000 after acquiring an additional 707 shares during the last quarter. Finally, Cerebellum GP LLC boosted its holdings in Mohawk Industries by 292.6% in the second quarter. Cerebellum GP LLC now owns 844 shares of the company’s stock valued at $181,000 after acquiring an additional 629 shares during the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.

In other Mohawk Industries news, Director Filip Balcaen bought 10,000 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were acquired at an average cost of $181.00 per share, with a total value of $1,810,000.00. Following the completion of the transaction, the director now owns 776 shares in the company, valued at $140,456. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bernard Thiers sold 5,000 shares of Mohawk Industries stock in a transaction dated 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 directly owns 40,156 shares in the company, valued at $7,629,640. The disclosure for this sale can be found here. Insiders acquired 110,000 shares of company stock worth $20,167,250 over the last three months. 16.80% of the stock is currently owned by corporate insiders.

A number of research analysts recently weighed in on MHK shares. JPMorgan Chase & Co. reduced their target price on Mohawk Industries to $190.00 and set a “neutral” rating on the stock in a report on Monday, July 30th. They noted that the move was a valuation call. Cleveland Research reiterated a “hold” rating on shares of Mohawk Industries in a report on Wednesday, September 12th. TheStreet lowered Mohawk Industries from a “b-” rating to a “c+” rating in a research report on Friday, August 10th. Credit Suisse Group set a $275.00 price objective on Mohawk Industries and gave the company a “buy” rating in a research report on Friday, June 1st. Finally, Jefferies Financial Group cut their price objective on Mohawk Industries from $294.00 to $268.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Two equities 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 a consensus rating of “Buy” and a consensus target price of $254.07.

NYSE:MHK opened at $186.91 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.99 and a current ratio of 1.74. Mohawk Industries, Inc. has a 12 month low of $177.00 and a 12 month high of $286.85. The stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.96 and a beta of 1.31.

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

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).

Further Reading: What is a Fiduciary?

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

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