Lafayette Investments Inc. Raises Position in Mohawk Industries, Inc. (MHK)

Lafayette Investments Inc. boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 5.8% in the first quarter, Holdings Channel reports. The institutional investor owned 33,748 shares of the company’s stock after buying an additional 1,838 shares during the period. Mohawk Industries accounts for approximately 1.6% of Lafayette Investments Inc.’s holdings, making the stock its 27th largest position. Lafayette Investments Inc.’s holdings in Mohawk Industries were worth $4,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MHK. Legal & General Group Plc raised its holdings in Mohawk Industries by 11.4% in the 3rd quarter. Legal & General Group Plc now owns 330,596 shares of the company’s stock valued at $57,970,000 after buying an additional 33,749 shares during the last quarter. Vanguard Group Inc raised its holdings in Mohawk Industries by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 6,421,024 shares of the company’s stock valued at $1,125,927,000 after buying an additional 29,538 shares during the last quarter. CENTRAL TRUST Co raised its holdings in Mohawk Industries by 66.1% in the 4th quarter. CENTRAL TRUST Co now owns 407 shares of the company’s stock valued at $48,000 after buying an additional 162 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Mohawk Industries by 20.0% in the 4th quarter. State of Alaska Department of Revenue now owns 18,570 shares of the company’s stock valued at $2,170,000 after buying an additional 3,092 shares during the last quarter. Finally, Fenimore Asset Management Inc. raised its holdings in Mohawk Industries by 14.6% in the 4th quarter. Fenimore Asset Management Inc. now owns 338,779 shares of the company’s stock valued at $39,624,000 after buying an additional 43,198 shares during the last quarter. Institutional investors and hedge funds own 79.97% of the company’s stock.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Mohawk Industries from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Jefferies Financial Group upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from $145.00 to $167.00 in a report on Tuesday, April 30th. Robert W. Baird set a $156.00 price objective on shares of Mohawk Industries and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, Longbow Research lowered shares of Mohawk Industries from a “buy” rating to a “neutral” rating and set a $125.98 price objective for the company. in a report on Friday, March 29th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $152.53.

In other news, VP Rodney David Patton sold 2,260 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $133.50, for a total transaction of $301,710.00. Following the completion of the sale, the vice president now owns 9,134 shares of the company’s stock, valued at approximately $1,219,389. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Suzanne L. Helen sold 14,247 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $140.43, for a total transaction of $2,000,706.21. The disclosure for this sale can be found here. Company insiders own 18.00% of the company’s stock.

Mohawk Industries stock traded down $1.37 during mid-day trading on Friday, hitting $131.47. 74,077 shares of the stock were exchanged, compared to its average volume of 894,676. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.37. Mohawk Industries, Inc. has a 12 month low of $109.35 and a 12 month high of $228.49. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 2.51 and a beta of 1.53.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, April 25th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $2.07 by $0.06. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.50 billion. Mohawk Industries had a net margin of 7.73% and a return on equity of 11.36%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.01 EPS. As a group, equities research analysts predict that Mohawk Industries, Inc. will post 10.77 EPS for the current fiscal year.

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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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