Meeder Asset Management Inc. lifted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,983 shares of the company’s stock after purchasing an additional 293 shares during the period. Meeder Asset Management Inc.’s holdings in Mohawk Industries were worth $883,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Penserra Capital Management LLC acquired a new stake in Mohawk Industries in the first quarter valued at $25,000. Parallel Advisors LLC raised its holdings in Mohawk Industries by 28.0% in the first quarter. Parallel Advisors LLC now owns 452 shares of the company’s stock valued at $57,000 after acquiring an additional 99 shares in the last quarter. Zions Bancorporation N.A. acquired a new stake in Mohawk Industries in the first quarter valued at $85,000. Marshall Wace North America L.P. acquired a new stake in Mohawk Industries in the first quarter valued at $85,000. Finally, Ayalon Holdings Ltd. acquired a new stake in Mohawk Industries in the first quarter valued at $88,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on MHK. Buckingham Research raised shares of Mohawk Industries from an “underperform” rating to a “neutral” rating and upped their price target for the company from $115.00 to $117.00 in a report on Tuesday, July 30th. Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating and set a $131.00 target price on the stock. in a report on Thursday, August 1st. Jefferies Financial Group raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and increased their target price for the stock from $145.00 to $167.00 in a report on Tuesday, April 30th. Wells Fargo & Co raised shares of Mohawk Industries from an “underperform” rating to a “market perform” rating and set a $115.00 target price on the stock in a report on Tuesday. Finally, National Securities initiated coverage on shares of Mohawk Industries in a report on Thursday, July 11th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $141.41.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.87 by $0.02. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.65 billion. Mohawk Industries had a net margin of 7.79% and a return on equity of 10.50%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.51 earnings per share. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.96 EPS for the current fiscal year.
In related news, Chairman Jeffrey S. Lorberbaum sold 18,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $142.76, for a total value of $2,569,680.00. Following the completion of the transaction, the chairman now owns 47,603 shares in the company, valued at approximately $6,795,804.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Filip Balcaen bought 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $109.98 per share, with a total value of $1,374,750.00. Following the transaction, the director now directly owns 1,519 shares in the company, valued at $167,059.62. The disclosure for this purchase can be found here. Insiders have sold 31,000 shares of company stock valued at $4,481,028 in the last 90 days. Insiders own 18.00% of the company’s stock.
About Mohawk Industries
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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