US Bancorp DE Has $20.02 Million Holdings in Mohawk Industries, Inc. (MHK)

US Bancorp DE lifted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 38.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,175 shares of the company’s stock after acquiring an additional 31,570 shares during the period. US Bancorp DE owned approximately 0.15% of Mohawk Industries worth $20,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Amalgamated Bank lifted its holdings in shares of Mohawk Industries by 2.9% during the 2nd quarter. Amalgamated Bank now owns 8,025 shares of the company’s stock worth $1,720,000 after acquiring an additional 225 shares during the period. BerganKDV Wealth Management LLC lifted its stake in Mohawk Industries by 6.5% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 4,061 shares of the company’s stock valued at $870,000 after purchasing an additional 247 shares during the last quarter. Federated Investors Inc. PA lifted its stake in Mohawk Industries by 8.8% in the 2nd quarter. Federated Investors Inc. PA now owns 3,439 shares of the company’s stock valued at $737,000 after purchasing an additional 277 shares during the last quarter. Providence Capital Advisors LLC lifted its stake in Mohawk Industries by 4.7% in the 2nd quarter. Providence Capital Advisors LLC now owns 6,502 shares of the company’s stock valued at $1,393,000 after purchasing an additional 289 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in Mohawk Industries by 14.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,363 shares of the company’s stock valued at $506,000 after purchasing an additional 303 shares during the last quarter. 81.57% of the stock is owned by institutional investors.

In other Mohawk Industries news, insider Bernard Thiers sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $190.00, for a total value of $950,000.00. Following the completion of the transaction, the insider now directly owns 40,156 shares in the company, valued at approximately $7,629,640. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Filip Balcaen purchased 25,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was acquired at an average price of $184.80 per share, with a total value of $4,620,000.00. Following the completion of the transaction, the director now owns 776 shares in the company, valued at approximately $143,404.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 287,698 shares of company stock valued at $36,348,885. Corporate insiders own 16.80% of the company’s stock.

Shares of NYSE MHK opened at $127.93 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. Mohawk Industries, Inc. has a 52-week low of $113.45 and a 52-week high of $286.85. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.62.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, October 25th. The company reported $3.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.58 by ($0.29). Mohawk Industries had a net margin of 8.81% and a return on equity of 13.49%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. As a group, research analysts expect that Mohawk Industries, Inc. will post 12.46 earnings per share for the current year.

Mohawk Industries announced that its board has authorized a stock buyback program on Thursday, October 25th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Mohawk Industries from $160.00 to $105.00 and set an “underweight” rating for the company in a research note on Monday, October 29th. SunTrust Banks dropped their price objective on shares of Mohawk Industries from $270.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Raymond James dropped their price objective on shares of Mohawk Industries from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Wells Fargo & Co dropped their price objective on shares of Mohawk Industries from $195.00 to $130.00 and set a “market perform” rating for the company in a research note on Monday, October 29th. Finally, Barclays dropped their price objective on shares of Mohawk Industries from $215.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $175.06.

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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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