Mohawk Industries, Inc. (MHK) Position Increased by Impala Asset Management LLC
Impala Asset Management LLC boosted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 12.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,397 shares of the company’s stock after buying an additional 13,933 shares during the period. Mohawk Industries comprises approximately 1.4% of Impala Asset Management LLC’s holdings, making the stock its 24th largest position. Impala Asset Management LLC owned 0.17% of Mohawk Industries worth $29,236,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Hudson Bay Capital Management LP bought a new position in shares of Mohawk Industries during the fourth quarter valued at about $1,168,000. Franklin Resources Inc. increased its position in shares of Mohawk Industries by 4.9% in the fourth quarter. Franklin Resources Inc. now owns 1,405 shares of the company’s stock valued at $281,000 after buying an additional 65 shares during the period. National Pension Service increased its position in shares of Mohawk Industries by 5.4% in the first quarter. National Pension Service now owns 59,074 shares of the company’s stock valued at $13,523,000 after buying an additional 3,037 shares during the period. Quadrature Capital Ltd increased its position in shares of Mohawk Industries by 192.4% in the fourth quarter. Quadrature Capital Ltd now owns 28,322 shares of the company’s stock valued at $5,655,000 after buying an additional 18,635 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Mohawk Industries during the fourth quarter valued at about $408,000. Institutional investors own 77.54% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE MHK) traded up 0.75% during mid-day trading on Monday, reaching $243.74. The company’s stock had a trading volume of 107,509 shares. The company has a 50-day moving average of $235.75 and a 200-day moving average of $222.02. The firm’s market cap is $18.11 billion. Mohawk Industries, Inc. has a 12 month low of $175.52 and a 12 month high of $245.90.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, April 27th. The company reported $2.72 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 return on equity of 13.60% and a net margin of 9.05%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 earnings per share. On average, analysts predict that Mohawk Industries, Inc. will post $13.34 earnings per share for the current year.
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MHK has been the topic of several research reports. Barclays PLC upped their price target on shares of Mohawk Industries from $251.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, March 20th. Nomura initiated coverage on shares of Mohawk Industries in a research report on Wednesday, April 12th. They set a “buy” rating and a $280.00 price target on the stock. Instinet reiterated a “buy” rating and set a $280.00 price target on shares of Mohawk Industries in a research report on Friday, April 14th. MKM Partners reiterated a “buy” rating and set a $255.00 price target on shares of Mohawk Industries in a research report on Tuesday, April 18th. Finally, Stifel Nicolaus upped their price target on shares of Mohawk Industries from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Mohawk Industries has an average rating of “Buy” and a consensus target price of $256.50.
In related news, 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 value of $238,270.00. Following the transaction, the director now directly owns 13,016 shares of the company’s stock, valued at $3,101,322.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Suzanne L. Helen sold 6,200 shares of Mohawk Industries stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $240.62, for a total value of $1,491,844.00. The disclosure for this sale can be found here. 17.10% of the stock is owned by 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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