Fulcrum Asset Management LLP lifted its holdings in Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 1,204.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 17,304 shares of the company’s stock after purchasing an additional 15,977 shares during the period. Fulcrum Asset Management LLP’s holdings in Mohawk Industries were worth $2,160,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Ethic Inc. boosted its holdings in shares of Mohawk Industries by 35.6% during the 3rd quarter. Ethic Inc. now owns 4,700 shares of the company’s stock worth $586,000 after purchasing an additional 1,233 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of Mohawk Industries by 5.7% in the third quarter. Pictet Asset Management Holding SA now owns 8,187 shares of the company’s stock valued at $1,021,000 after purchasing an additional 443 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Mohawk Industries by 37.1% in the third quarter. Parallel Advisors LLC now owns 2,750 shares of the company’s stock valued at $343,000 after purchasing an additional 744 shares during the last quarter. Inscription Capital LLC increased its holdings in shares of Mohawk Industries by 72.1% in the third quarter. Inscription Capital LLC now owns 5,800 shares of the company’s stock valued at $723,000 after purchasing an additional 2,430 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in Mohawk Industries by 37.2% during the third quarter. Chicago Partners Investment Group LLC now owns 15,062 shares of the company’s stock worth $1,879,000 after buying an additional 4,083 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Barclays boosted their price objective on Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Wells Fargo & Company raised their target price on Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $121.00 price target on shares of Mohawk Industries in a report on Tuesday, August 4th. Bank of America reiterated a “neutral” rating on shares of Mohawk Industries in a report on Monday, November 2nd. Finally, Wall Street Zen cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $138.92.
Read Our Latest Stock Analysis on MHK
Insiders Place Their Bets
In other Mohawk Industries news, Director Bernard Thiers sold 15,000 shares of Mohawk Industries stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $144.05, for a total value of $2,160,750.00. Following the sale, the director owned 78,633 shares in the company, valued at $11,327,083.65. The trade was a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 45,750 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $127.18, for a total value of $5,818,485.00. Following the completion of the transaction, the chief executive officer directly owned 78,425 shares in the company, valued at approximately $9,974,091.50. This trade represents a 36.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 127,946 shares of company stock valued at $17,015,584. 17.90% of the stock is currently owned by insiders.
Mohawk Industries Stock Performance
Mohawk Industries stock opened at $151.64 on Wednesday. The firm has a 50 day simple moving average of $128.32 and a 200-day simple moving average of $117.57. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.91 and a quick ratio of 1.09. Mohawk Industries, Inc. has a 1-year low of $92.99 and a 1-year high of $158.81.
Mohawk Industries (NYSE:MHK – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.58 by $0.14. Mohawk Industries had a net margin of 4.63% and a return on equity of 7.47%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the company earned $2.67 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts expect that Mohawk Industries, Inc. will post 9.76 EPS for the current year.
Mohawk Industries Profile
Mohawk Industries, Inc. is a global flooring manufacturer headquartered in Calhoun, Georgia. Its roots trace to a carpet-weaving business established in Amsterdam, New York, in 1878. The company makes flooring for residential and commercial customers, including carpet, rugs, ceramic and porcelain tile, natural stone, hardwood, laminate and luxury vinyl products. Its portfolio includes brands such as Mohawk, Daltile, American Olean, Karastan and Pergo. Mohawk serves markets across North America and internationally, with manufacturing and distribution operations in several regions.
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