Mohawk Industries, Inc. (MHK) Shares Sold by First Personal Financial Services
First Personal Financial Services lowered its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 31.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 533 shares of the company’s stock after selling 248 shares during the period. First Personal Financial Services’ holdings in Mohawk Industries were worth $122,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Washington Trust Bank raised its stake in 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 in the last quarter. IFP Advisors Inc raised its stake in Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock valued at $121,000 after buying an additional 28 shares during the period. SRB Corp raised its stake in Mohawk Industries by 5.5% in the third quarter. SRB Corp now owns 743 shares of the company’s stock valued at $149,000 after buying an additional 39 shares during the period. Westport Asset Management Inc. bought a new position in Mohawk Industries during the fourth quarter worth $160,000. Finally, Sphera Funds Management LTD. bought a new position in Mohawk Industries during the third quarter worth $220,000. Hedge funds and other institutional investors own 77.54% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE:MHK) traded down 0.23% during midday trading on Friday, hitting $241.93. 349,636 shares of the stock were exchanged. Mohawk Industries, Inc. has a 12 month low of $175.52 and a 12 month high of $245.90. The firm has a 50 day moving average of $235.75 and a 200-day moving average of $222.02. The stock’s market cap is $17.98 billion.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 27th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.01. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. Mohawk Industries had a net margin of 10.65% and a return on equity of 16.88%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 earnings per share. Equities research analysts anticipate that Mohawk Industries, Inc. will post $13.34 EPS for the current year.
A number of research analysts have recently weighed in on MHK shares. Barclays PLC increased their target price on shares of Mohawk Industries from $251.00 to $272.00 and gave the company an “overweight” rating in a research report on Monday, March 20th. Nomura initiated coverage on shares of Mohawk Industries in a report on Wednesday, April 12th. They issued a “buy” rating and a $280.00 price objective for the company. Instinet reiterated a “buy” rating and issued a $280.00 target price on shares of Mohawk Industries in a research note on Friday, April 14th. MKM Partners reiterated a “buy” rating and issued a $255.00 target price on shares of Mohawk Industries in a research note on Tuesday, April 18th. Finally, Stifel Nicolaus increased their target price on shares of Mohawk Industries from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Mohawk Industries currently has a consensus rating of “Buy” and an average target price of $256.50.
In other Mohawk Industries news, Director Cock Frans Georges De sold 1,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $238.27, for a total transaction 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 6,200 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $240.62, for a total transaction of $1,491,844.00. The disclosure for this sale can be found here. 17.10% of the stock is owned by corporate insiders.
About Mohawk Industries
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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