Swiss National Bank Trims Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Swiss National Bank lowered its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 4.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 200,974 shares of the company’s stock after selling 9,300 shares during the period. Swiss National Bank owned about 0.28% of Mohawk Industries worth $29,638,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. First Hawaiian Bank grew its position in shares of Mohawk Industries by 485.0% during the 2nd quarter. First Hawaiian Bank now owns 1,755 shares of the company’s stock valued at $258,000 after acquiring an additional 1,455 shares during the period. Retirement Systems of Alabama grew its position in shares of Mohawk Industries by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 28,707 shares of the company’s stock valued at $4,233,000 after acquiring an additional 88 shares during the period. Coronation Fund Managers Ltd. acquired a new stake in shares of Mohawk Industries during the 1st quarter valued at about $5,373,000. Nomura Asset Management Co. Ltd. grew its position in shares of Mohawk Industries by 4.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 11,712 shares of the company’s stock valued at $1,478,000 after acquiring an additional 493 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in shares of Mohawk Industries by 32.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 54,003 shares of the company’s stock valued at $6,797,000 after acquiring an additional 13,284 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

MHK has been the topic of a number of analyst reports. Buckingham Research upgraded Mohawk Industries from an “underperform” rating to a “neutral” rating and raised their target price for the company from $115.00 to $117.00 in a research report on Tuesday, July 30th. Loop Capital raised their target price on Mohawk Industries to $145.00 and gave the company a “hold” rating in a research report on Friday, June 14th. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating and set a $131.00 target price on the stock. in a research report on Thursday, August 1st. Stifel Nicolaus set a $145.00 target price on Mohawk Industries and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group upgraded Mohawk Industries from a “hold” rating to a “buy” rating and raised their target price for the company from $145.00 to $167.00 in a research report on Tuesday, April 30th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $141.41.

In related news, Director Bruce Bruckmann bought 2,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $117.69 per share, for a total transaction of $235,380.00. Following the acquisition, the director now directly owns 286,691 shares in the company, valued at approximately $33,740,663.79. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Filip Balcaen bought 12,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $109.98 per share, for a total transaction of $1,374,750.00. Following the completion of the acquisition, the director now owns 1,519 shares in the company, valued at $167,059.62. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 31,000 shares of company stock worth $4,481,028. Insiders own 18.00% of the company’s stock.

MHK stock opened at $116.27 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.66 and a debt-to-equity ratio of 0.18. Mohawk Industries, Inc. has a 12-month low of $108.93 and a 12-month high of $196.30. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 2.25 and a beta of 1.38. The business’s 50-day moving average is $133.87 and its 200 day moving average is $135.89.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.87 by $0.02. Mohawk Industries had a return on equity of 10.50% and a net margin of 7.79%. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the firm posted $3.51 EPS. Mohawk Industries’s revenue was up .3% compared to the same quarter last year. As a group, equities analysts forecast that Mohawk Industries, Inc. will post 9.96 EPS for the current fiscal year.

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

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