Raymond James & Associates grew its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 14.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,500 shares of the company’s stock after purchasing an additional 9,675 shares during the quarter. Raymond James & Associates owned about 0.11% of Mohawk Industries worth $16,820,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in shares of Mohawk Industries by 2,250.0% during the 2nd quarter. Captrust Financial Advisors now owns 705 shares of the company’s stock valued at $151,000 after buying an additional 675 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Mohawk Industries during the 2nd quarter valued at approximately $159,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Mohawk Industries during the 1st quarter valued at approximately $161,000. NuWave Investment Management LLC raised its position in shares of Mohawk Industries by 686.4% during the 2nd quarter. NuWave Investment Management LLC now owns 810 shares of the company’s stock valued at $173,000 after buying an additional 707 shares during the period. Finally, Cerebellum GP LLC raised its position in shares of Mohawk Industries by 292.6% during the 2nd quarter. Cerebellum GP LLC now owns 844 shares of the company’s stock valued at $181,000 after buying an additional 629 shares during the period. 81.42% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on MHK shares. Zacks Investment Research lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. ValuEngine lowered shares of Mohawk Industries from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 26th. SunTrust Banks reaffirmed a “buy” rating and set a $270.00 price target on shares of Mohawk Industries in a research report on Friday, July 27th. Raymond James lowered shares of Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a research report on Friday, July 27th. Finally, Stifel Nicolaus reduced their price target on shares of Mohawk Industries from $290.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $245.15.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Wednesday, July 25th. The company reported $3.51 earnings per share for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $2.59 billion. During the same quarter last year, the business posted $3.72 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 13.71 EPS for the current year.
In other Mohawk Industries news, Director Filip Balcaen purchased 25,000 shares of the company’s stock in a transaction on Friday, August 3rd. The stock was acquired at an average price of $183.45 per share, for a total transaction of $4,586,250.00. Following the completion of the purchase, the director now directly owns 776 shares in the company, valued at approximately $142,357.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Jeffrey S. Lorberbaum sold 13,400 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $186.74, for a total transaction of $2,502,316.00. Following the completion of the transaction, the chairman now owns 45,187 shares of the company’s stock, valued at approximately $8,438,220.38. The disclosure for this sale can be found here. Insiders purchased a total of 110,000 shares of company stock valued at $20,167,250 in the last quarter. 16.80% of the stock is owned by insiders.
About Mohawk Industries
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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