Northern Trust Corp grew its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 732,708 shares of the company’s stock after purchasing an additional 41,051 shares during the period. Northern Trust Corp owned approximately 0.99% of Mohawk Industries worth $85,697,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of MHK. First Pacific Advisors LP acquired a new position in shares of Mohawk Industries during the third quarter valued at $277,086,000. Douglass Winthrop Advisors LLC bought a new position in Mohawk Industries during the fourth quarter valued at about $37,103,000. Massachusetts Financial Services Co. MA bought a new position in Mohawk Industries during the fourth quarter valued at about $34,884,000. Thornburg Investment Management Inc. bought a new position in Mohawk Industries during the fourth quarter valued at about $30,231,000. Finally, Thompson Siegel & Walmsley LLC boosted its stake in Mohawk Industries by 853,280.0% during the third quarter. Thompson Siegel & Walmsley LLC now owns 256,014 shares of the company’s stock valued at $44,892,000 after buying an additional 255,984 shares in the last quarter. 77.80% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on MHK. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Wells Fargo & Co raised their target price on Mohawk Industries from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Monday, February 11th. SunTrust Banks raised their target price on Mohawk Industries to $150.00 and gave the company a “buy” rating in a research note on Monday, February 11th. They noted that the move was a valuation call. Loop Capital raised their target price on Mohawk Industries to $126.00 and gave the company an “underperform” rating in a research note on Friday, February 8th. Finally, Buckingham Research began coverage on Mohawk Industries in a research note on Friday, February 1st. They set an “underperform” rating and a $116.00 target price for the company. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Mohawk Industries has an average rating of “Hold” and an average target price of $168.94.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, February 7th. The company reported $2.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.04. Mohawk Industries had a return on equity of 12.40% and a net margin of 8.63%. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the company posted $3.42 EPS. Mohawk Industries’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts expect that Mohawk Industries, Inc. will post 11.24 EPS for the current fiscal year.
In related news, insider Suzanne L. Helen sold 14,247 shares of the stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $140.43, for a total value of $2,000,706.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Filip Balcaen acquired 9,000 shares of Mohawk Industries stock in a transaction that occurred on Wednesday, December 26th. The stock was acquired at an average cost of $109.76 per share, with a total value of $987,840.00. Following the completion of the purchase, the director now owns 776 shares in the company, valued at approximately $85,173.76. The disclosure for this purchase can be found here. Company insiders own 16.80% of the company’s stock.
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Mohawk Industries Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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