Wedge Capital Management L L P NC lowered its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 42.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,348 shares of the company’s stock after selling 104,928 shares during the period. Wedge Capital Management L L P NC owned about 0.19% of Mohawk Industries worth $33,921,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Washington Trust Bank raised 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 period. IFP Advisors Inc raised 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 period. First Manhattan Co. purchased a new stake in shares of Mohawk Industries during the second quarter worth $160,000. Meeder Asset Management Inc. purchased a new stake in shares of Mohawk Industries during the first quarter worth $179,000. Finally, Bahl & Gaynor Inc. purchased a new stake in shares of Mohawk Industries during the first quarter worth $202,000. 76.31% of the stock is owned by institutional investors and hedge funds.
Mohawk Industries, Inc. (NYSE MHK) opened at 245.43 on Friday. The stock has a 50 day moving average price of $245.96 and a 200 day moving average price of $234.13. Mohawk Industries, Inc. has a 52-week low of $175.52 and a 52-week high of $252.89. The company’s market capitalization is $18.24 billion.
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 business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $3.47 earnings per share. On average, equities analysts expect that Mohawk Industries, Inc. will post $13.53 earnings per share for the current year.
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A number of equities research analysts have weighed in on the company. MKM Partners reaffirmed a “buy” rating and set a $286.00 target price (up from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. BidaskClub lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Credit Suisse Group assumed coverage on Mohawk Industries in a research report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 target price for the company. Stifel Nicolaus lifted their target price on Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $266.64.
In other 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 value of $238,270.00. Following the sale, the director now directly owns 13,016 shares in the company, valued at $3,101,322.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Rodney David Patton sold 387 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $242.00, for a total value of $93,654.00. Following the completion of the sale, the vice president now owns 7,061 shares in the company, valued at $1,708,762. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,587 shares of company stock worth $1,823,768. Insiders own 17.10% of the company’s stock.
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.
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