Pzena Investment Management LLC Grows Position in Mohawk Industries, Inc. (NYSE:MHK)

Pzena Investment Management LLC raised its stake in Mohawk Industries, Inc. (NYSE:MHK) by 45.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,979,015 shares of the company’s stock after buying an additional 614,307 shares during the quarter. Mohawk Industries comprises about 1.5% of Pzena Investment Management LLC’s portfolio, making the stock its 26th biggest holding. Pzena Investment Management LLC owned about 2.73% of Mohawk Industries worth $291,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in MHK. FMR LLC increased its position in Mohawk Industries by 20.9% in the 1st quarter. FMR LLC now owns 3,467,202 shares of the company’s stock worth $437,387,000 after purchasing an additional 599,723 shares during the last quarter. Impala Asset Management LLC boosted its holdings in Mohawk Industries by 138.1% in the 1st quarter. Impala Asset Management LLC now owns 885,310 shares of the company’s stock valued at $111,682,000 after purchasing an additional 513,503 shares during the period. Strs Ohio lifted its holdings in shares of Mohawk Industries by 306.9% during the 2nd quarter. Strs Ohio now owns 158,331 shares of the company’s stock worth $23,349,000 after acquiring an additional 119,417 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its position in Mohawk Industries by 172.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 176,410 shares of the company’s stock worth $22,252,000 after purchasing an additional 111,552 shares during the period. Finally, Tocqueville Asset Management L.P. increased its position in shares of Mohawk Industries by 234.2% in the first quarter. Tocqueville Asset Management L.P. now owns 150,285 shares of the company’s stock valued at $18,958,000 after acquiring an additional 105,315 shares during the period. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Shares of NYSE MHK traded up $1.39 during mid-day trading on Friday, reaching $111.84. 19,088 shares of the company traded hands, compared to its average volume of 1,084,164. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.66 and a current ratio of 1.30. The stock has a market cap of $8.28 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.25 and a beta of 1.38. The company’s fifty day moving average is $137.99 and its two-hundred day moving average is $136.51. Mohawk Industries, Inc. has a fifty-two week low of $109.35 and a fifty-two week high of $196.30.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.87 by $0.02. Mohawk Industries had a net margin of 7.79% and a return on equity of 10.50%. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the firm earned $3.51 EPS. The business’s revenue was up .3% on a year-over-year basis. Research analysts forecast that Mohawk Industries, Inc. will post 9.97 earnings per share for the current year.

A number of brokerages recently weighed in on MHK. Nomura lowered their price objective on shares of Mohawk Industries from $176.00 to $167.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. ValuEngine upgraded shares of Mohawk Industries from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 15th. National Securities initiated coverage on Mohawk Industries in a report on Thursday, July 11th. They issued a “buy” rating for the company. Loop Capital raised their target price on Mohawk Industries to $145.00 and gave the company a “hold” rating in a report on Friday, June 14th. Finally, Jefferies Financial Group upgraded Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $167.00 in a research report on Tuesday, April 30th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Mohawk Industries currently has an average rating of “Hold” and a consensus target price of $142.59.

In other Mohawk Industries news, Director Bruce Bruckmann bought 2,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $117.69 per share, for a total transaction of $235,380.00. Following the completion of the transaction, the director now owns 286,691 shares in the company, valued at approximately $33,740,663.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bernard Thiers sold 2,800 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $149.85, for a total transaction of $419,580.00. Following the transaction, the insider now owns 43,559 shares in the company, valued at $6,527,316.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,000 shares of company stock valued at $4,481,028. Company insiders own 18.00% of the company’s stock.

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).

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

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