Tokio Marine Asset Management Co. Ltd. cut its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 9.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 896 shares of the company’s stock after selling 89 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Mohawk Industries were worth $217,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of MHK. Washington Trust Bank increased its stake in shares of Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock worth $110,000 after buying an additional 215 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after buying an additional 28 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Mohawk Industries during the first quarter worth approximately $179,000. Bahl & Gaynor Inc. acquired a new stake in shares of Mohawk Industries during the first quarter worth approximately $202,000. Finally, IBM Retirement Fund increased its stake in shares of Mohawk Industries by 34.7% in the second quarter. IBM Retirement Fund now owns 924 shares of the company’s stock worth $223,000 after buying an additional 238 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.
Mohawk Industries, Inc. (NYSE:MHK) traded up 0.35% during midday trading on Friday, hitting $248.97. The stock had a trading volume of 603,288 shares. Mohawk Industries, Inc. has a 1-year low of $175.52 and a 1-year high of $252.89. The company’s market capitalization is $18.51 billion. The stock’s 50-day moving average is $246.47 and its 200-day moving average is $235.12.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.12. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. Mohawk Industries’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.47 EPS. Equities research analysts forecast that Mohawk Industries, Inc. will post $13.52 EPS for the current year.
WARNING: “Tokio Marine Asset Management Co. Ltd. Cuts Stake in Mohawk Industries, Inc. (MHK)” was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this article can be accessed at https://stocknewstimes.com/2017/08/18/tokio-marine-asset-management-co-ltd-sells-89-shares-of-mohawk-industries-inc-mhk-updated.html.
A number of analysts recently commented on MHK shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $267.00 price target on shares of Mohawk Industries in a research report on Monday, May 1st. BidaskClub downgraded Mohawk Industries from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded 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 initiated coverage on Mohawk Industries in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price target for the company. Finally, MKM Partners reiterated a “buy” rating and issued a $286.00 price target (up from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $266.64.
In other news, Director Cock Frans Georges De sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $238.27, for a total value of $238,270.00. Following the transaction, the director now directly owns 13,016 shares in the company, valued at approximately $3,101,322.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $246.78, for a total transaction of $33,808.86. Following the completion of the transaction, the vice president now owns 6,924 shares in the company, valued at $1,708,704.72. The disclosure for this sale can be found here. Insiders sold a total of 7,724 shares of company stock worth $1,857,577 over the last quarter. 17.10% of the stock is currently owned by company insiders.
Mohawk Industries Company Profile
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.
Receive News & Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
