SG Americas Securities LLC trimmed its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 13.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,768 shares of the company’s stock after selling 6,869 shares during the quarter. SG Americas Securities LLC owned approximately 0.06% of Mohawk Industries worth $10,586,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in Mohawk Industries during the 3rd quarter worth approximately $5,281,000. Putnam FL Investment Management Co. acquired a new position in Mohawk Industries during the 3rd quarter worth approximately $5,681,000. IBM Retirement Fund increased its position in Mohawk Industries by 72.4% during the 3rd quarter. IBM Retirement Fund now owns 1,593 shares of the company’s stock worth $436,000 after purchasing an additional 669 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Mohawk Industries by 55.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,513 shares of the company’s stock worth $374,000 after purchasing an additional 537 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Mohawk Industries by 4.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 9,325 shares of the company’s stock worth $2,308,000 after purchasing an additional 363 shares in the last quarter. Institutional investors and hedge funds own 76.19% of the company’s stock.
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MHK has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Royal Bank Of Canada reissued a “buy” rating and set a $291.00 target price on shares of Mohawk Industries in a report on Monday, July 31st. BidaskClub lowered shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Cleveland Research lowered shares of Mohawk Industries from a “buy” rating to a “neutral” rating in a report on Friday, September 22nd. Finally, J P Morgan Chase & Co boosted their target price on shares of Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $281.42.
Mohawk Industries, Inc. (MHK) traded up $3.55 during trading hours on Friday, hitting $270.65. 367,100 shares of the stock were exchanged, compared to its average volume of 486,282. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. Mohawk Industries, Inc. has a 12 month low of $189.44 and a 12 month high of $271.69. The company has a market cap of $19,850.88, a price-to-earnings ratio of 19.86, a P/E/G ratio of 2.42 and a beta of 1.35.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, October 26th. The company reported $3.75 EPS for the quarter, beating the Zacks’ consensus estimate of $3.74 by $0.01. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the firm posted $3.50 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. equities analysts expect that Mohawk Industries, Inc. will post 13.52 EPS for the current year.
In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total value of $5,022,515.00. Following the sale, the chairman now directly owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 17.00% of the company’s stock.
Mohawk Industries 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.
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