Nomura Asset Management Co. Ltd. Raises Position in Mohawk Industries, Inc. (MHK)

Nomura Asset Management Co. Ltd. increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,957 shares of the company’s stock after acquiring an additional 545 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Mohawk Industries were worth $2,217,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Riverhead Capital Management LLC boosted its position in shares of Mohawk Industries by 0.7% during the second quarter. Riverhead Capital Management LLC now owns 2,035 shares of the company’s stock worth $492,000 after acquiring an additional 15 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Mohawk Industries by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,693 shares of the company’s stock worth $1,134,000 after acquiring an additional 16 shares during the last quarter. Bellwether Investment Group LLC boosted its position in shares of Mohawk Industries by 1.8% during the second quarter. Bellwether Investment Group LLC now owns 1,366 shares of the company’s stock worth $330,000 after acquiring an additional 24 shares during the last quarter. Calamos Wealth Management LLC boosted its position in shares of Mohawk Industries by 0.7% during the second quarter. Calamos Wealth Management LLC now owns 4,761 shares of the company’s stock worth $1,151,000 after acquiring an additional 34 shares during the last quarter. Finally, First Personal Financial Services boosted its position in shares of Mohawk Industries by 6.6% during the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 76.59% of the company’s stock.

Several equities analysts have commented on the stock. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Stifel Nicolaus reiterated a “buy” rating and set a $270.00 price objective on shares of Mohawk Industries in a research report on Sunday, October 29th. Nomura set a $300.00 price objective on shares of Mohawk Industries and gave the company a “buy” rating in a research report on Friday, October 27th. SunTrust Banks reiterated a “buy” rating and set a $275.00 price objective on shares of Mohawk Industries in a research report on Friday, October 27th. Finally, Northcoast Research assumed coverage on shares of Mohawk Industries in a research report on Thursday, October 5th. They set a “buy” rating and a $295.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $281.42.

Shares of Mohawk Industries, Inc. (NYSE:MHK) traded down $3.20 on Tuesday, hitting $277.37. 388,600 shares of the stock traded hands, compared to its average volume of 484,676. Mohawk Industries, Inc. has a 1-year low of $196.50 and a 1-year high of $286.85. The stock has a market capitalization of $20,851.97, a P/E ratio of 20.86, a P/E/G ratio of 2.54 and a beta of 1.37. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the firm posted $3.50 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. sell-side analysts forecast that Mohawk Industries, Inc. will post 13.52 EPS for the current year.

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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.

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

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