K.J. Harrison & Partners Inc acquired a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,100 shares of the company’s stock, valued at approximately $266,000.
A number of other large investors also recently bought and sold shares of the stock. Grandfield & Dodd LLC boosted its stake in Mohawk Industries by 25.0% in the second quarter. Grandfield & Dodd LLC now owns 1,251 shares of the company’s stock valued at $302,000 after buying an additional 250 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Mohawk Industries by 0.7% in the second quarter. CIBC Asset Management Inc now owns 6,244 shares of the company’s stock valued at $1,509,000 after buying an additional 41 shares during the last quarter. Mitchell Capital Management Co. boosted its stake in Mohawk Industries by 1.2% in the second quarter. Mitchell Capital Management Co. now owns 26,992 shares of the company’s stock valued at $6,524,000 after buying an additional 324 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Mohawk Industries by 1.3% in the second quarter. Kornitzer Capital Management Inc. KS now owns 24,880 shares of the company’s stock valued at $6,013,000 after buying an additional 315 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Mohawk Industries by 29.8% in the second quarter. Janney Montgomery Scott LLC now owns 3,275 shares of the company’s stock valued at $792,000 after buying an additional 752 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.12. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.47 EPS.
Several research firms have weighed in on MHK. BidaskClub cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Sunday. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 price target on shares of Mohawk Industries in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price target for the company in a research report on Tuesday, July 4th. Credit Suisse Group assumed coverage on shares of Mohawk Industries in a research report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on shares of Mohawk Industries from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $260.67.
In other Mohawk Industries news, insider Suzanne L. Helen sold 6,200 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $240.62, for a total transaction of $1,491,844.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rodney David Patton sold 387 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $242.00, for a total transaction of $93,654.00. Following the sale, the vice president now directly owns 7,061 shares of the company’s stock, valued at approximately $1,708,762. The disclosure for this sale can be found here. Insiders have sold a total of 7,587 shares of company stock valued at $1,823,768 in the last three months. Insiders own 17.10% of the company’s stock.
About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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