Covey Capital Advisors LLC Continues to Hold Stake in Mohawk Industries, Inc. (MHK)
Covey Capital Advisors LLC continued to hold its position in Mohawk Industries, Inc. (NYSE:MHK) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,236 shares of the company’s stock at the end of the first quarter. Mohawk Industries accounts for approximately 1.4% of Covey Capital Advisors LLC’s portfolio, making the stock its 19th largest position. Covey Capital Advisors LLC’s holdings in Mohawk Industries were worth $2,579,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in MHK. Washington Trust Bank boosted its stake in shares of 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 during the period. IFP Advisors Inc boosted its stake in shares of Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock worth $121,000 after buying an additional 28 shares during the period. SRB Corp raised its position in shares of Mohawk Industries by 5.5% in the third quarter. SRB Corp now owns 743 shares of the company’s stock worth $149,000 after buying an additional 39 shares in the last quarter. Westport Asset Management Inc. acquired a new position in shares of Mohawk Industries during the fourth quarter worth $160,000. Finally, Bahl & Gaynor Inc. acquired a new position in shares of Mohawk Industries during the first quarter worth $202,000. Institutional investors own 77.54% of the company’s stock.
Mohawk Industries, Inc. (NYSE MHK) opened at 241.93 on Monday. Mohawk Industries, Inc. has a one year low of $175.52 and a one year 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 company’s market cap is $17.98 billion.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, April 27th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.71 by $0.01. The firm 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $2.38 EPS. On average, analysts predict that Mohawk Industries, Inc. will post $13.34 EPS for the current year.
MHK has been the topic of a number of recent analyst reports. Barclays PLC increased their price target on Mohawk Industries from $251.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, March 20th. Nomura initiated coverage on Mohawk Industries in a research report on Wednesday, April 12th. They issued a “buy” rating and a $280.00 target price on the stock. Instinet reaffirmed a “buy” rating and issued a $280.00 target price on shares of Mohawk Industries in a research report on Friday, April 14th. MKM Partners reaffirmed a “buy” rating and issued a $255.00 target price on shares of Mohawk Industries in a research report on Tuesday, April 18th. Finally, Stifel Nicolaus increased their price target on Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 1st. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Mohawk Industries currently has an average rating of “Buy” and an average price target of $256.50.
In related news, insider Suzanne L. Helen sold 6,200 shares of Mohawk Industries stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $240.62, for a total transaction of $1,491,844.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Cock Frans Georges De sold 1,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $238.27, for a total transaction of $238,270.00. Following the sale, the director now owns 13,016 shares in the company, valued at $3,101,322.32. The disclosure for this sale can be found here. Insiders own 17.10% of the company’s stock.
Mohawk Industries Company Profile
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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