HL Financial Services LLC boosted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 1.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,804 shares of the company’s stock after buying an additional 238 shares during the period. HL Financial Services LLC’s holdings in Mohawk Industries were worth $3,578,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in MHK. Vanguard Group Inc. boosted its stake in Mohawk Industries by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,987,177 shares of the company’s stock worth $1,373,997,000 after buying an additional 185,698 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Mohawk Industries by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 4,616,502 shares of the company’s stock worth $1,059,441,000 after buying an additional 159,231 shares during the period. BlackRock Inc. boosted its stake in Mohawk Industries by 3,286.0% in the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock worth $992,431,000 after buying an additional 4,196,790 shares during the period. FMR LLC boosted its stake in Mohawk Industries by 5.5% in the first quarter. FMR LLC now owns 2,690,837 shares of the company’s stock worth $617,520,000 after buying an additional 139,080 shares during the period. Finally, Egerton Capital UK LLP boosted its stake in Mohawk Industries by 3.1% in the first quarter. Egerton Capital UK LLP now owns 1,432,719 shares of the company’s stock worth $328,795,000 after buying an additional 42,925 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE MHK) traded up 0.35% during mid-day trading on Friday, reaching $248.97. 603,288 shares of the company’s stock traded hands. The firm’s market cap is $18.51 billion. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $252.89. The firm’s 50-day moving average is $246.74 and its 200 day moving average is $235.35.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 return on equity of 16.45% and a net margin of 10.54%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.47 earnings per share. Analysts predict that Mohawk Industries, Inc. will post $13.52 earnings per share for the current year.
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MHK has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price for the company in a research note on Tuesday, July 4th. Royal Bank Of Canada reiterated a “buy” rating and issued a $267.00 target price on shares of Mohawk Industries in a research note on Monday, May 1st. Stifel Nicolaus lifted their target price on shares of Mohawk Industries from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Finally, Credit Suisse Group initiated coverage on shares of Mohawk Industries in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Mohawk Industries presently has an average rating of “Buy” and an average target price of $266.64.
In related news, Director Cock Frans Georges De sold 1,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $238.27, for a total transaction of $238,270.00. Following the completion of the sale, the director now directly owns 13,016 shares of the company’s stock, valued at $3,101,322.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Rodney David Patton sold 137 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the sale, the vice president now directly owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,724 shares of company stock valued at $1,857,577. Corporate 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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