Quest Capital Management Inc. ADV Lowers Position in Mohawk Industries, Inc. (NYSE:MHK)

Quest Capital Management Inc. ADV cut its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 99.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,795 shares of the company’s stock after selling 191,014 shares during the period. Quest Capital Management Inc. ADV’s holdings in Mohawk Industries were worth $265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Hawaiian Bank lifted its position in Mohawk Industries by 485.0% during the second quarter. First Hawaiian Bank now owns 1,755 shares of the company’s stock valued at $258,000 after purchasing an additional 1,455 shares in the last quarter. Retirement Systems of Alabama lifted its position in Mohawk Industries by 0.3% during the second quarter. Retirement Systems of Alabama now owns 28,707 shares of the company’s stock valued at $4,233,000 after purchasing an additional 88 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new position in Mohawk Industries during the first quarter valued at $5,373,000. Swiss National Bank lifted its position in Mohawk Industries by 2.0% during the first quarter. Swiss National Bank now owns 210,274 shares of the company’s stock valued at $26,526,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Mohawk Industries by 4.4% during the first quarter. Nomura Asset Management Co. Ltd. now owns 11,712 shares of the company’s stock valued at $1,478,000 after purchasing an additional 493 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

In other news, insider Bernard Thiers sold 2,800 shares of Mohawk Industries stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $149.85, for a total value of $419,580.00. Following the sale, the insider now directly owns 43,559 shares of the company’s stock, valued at $6,527,316.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey S. Lorberbaum sold 18,000 shares of Mohawk Industries stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $142.76, for a total value of $2,569,680.00. Following the completion of the sale, the chairman now directly owns 47,603 shares in the company, valued at $6,795,804.28. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock worth $4,481,028 over the last ninety days. Insiders own 18.00% of the company’s stock.

Shares of MHK stock traded down $0.99 during trading hours on Tuesday, hitting $113.08. The stock had a trading volume of 7,128 shares, compared to its average volume of 1,093,418. Mohawk Industries, Inc. has a one year low of $108.93 and a one year high of $196.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.30 and a quick ratio of 0.66. The stock’s 50-day moving average price is $135.26 and its two-hundred day moving average price is $136.03. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 2.20 and a beta of 1.38.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 25th. The company reported $2.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.87 by $0.02. Mohawk Industries had a return on equity of 10.50% and a net margin of 7.79%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the firm posted $3.51 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. As a group, equities research analysts predict that Mohawk Industries, Inc. will post 9.96 earnings per share for the current fiscal year.

MHK has been the topic of a number of recent analyst reports. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating and set a $131.00 price target on the stock. in a report on Thursday, August 1st. Buckingham Research raised Mohawk Industries from an “underperform” rating to a “neutral” rating and raised their price target for the company from $115.00 to $117.00 in a report on Tuesday, July 30th. JPMorgan Chase & Co. decreased their price target on Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating on the stock in a report on Monday, July 29th. Nomura decreased their price target on Mohawk Industries from $176.00 to $167.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Finally, Jefferies Financial Group raised Mohawk Industries from a “hold” rating to a “buy” rating and raised their price target for the company from $145.00 to $167.00 in a report on Tuesday, April 30th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $141.41.

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

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