CHURCHILL MANAGEMENT Corp Buys 1,678 Shares of Mohawk Industries, Inc. (NYSE:MHK)
CHURCHILL MANAGEMENT Corp increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,765 shares of the company’s stock after buying an additional 1,678 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Mohawk Industries were worth $5,985,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in Mohawk Industries by 3,286.0% in the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock valued at $992,431,000 after buying an additional 4,196,790 shares in the last quarter. Glenview Capital Management LLC purchased a new stake in Mohawk Industries during the first quarter valued at about $82,361,000. Morgan Stanley boosted its stake in Mohawk Industries by 159.5% in the first quarter. Morgan Stanley now owns 353,581 shares of the company’s stock valued at $81,141,000 after buying an additional 217,330 shares during the last quarter. Vanguard Group Inc. boosted its stake in Mohawk Industries by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,987,177 shares of the company’s stock valued at $1,373,997,000 after buying an additional 185,698 shares during the last quarter. Finally, Nicholas Company Inc. purchased a new stake in Mohawk Industries during the first quarter valued at about $39,107,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mohawk Industries, Inc. (MHK) traded down 0.04% during trading on Friday, hitting $250.88. 268,475 shares of the stock were exchanged. Mohawk Industries, Inc. has a 12-month low of $175.52 and a 12-month high of $252.23. The firm has a 50 day moving average of $244.51 and a 200-day moving average of $232.21. The company’s market cap is $18.65 billion.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.12. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.47 earnings per share. On average, analysts forecast that Mohawk Industries, Inc. will post $13.52 earnings per share for the current year.
Several research firms recently issued reports on MHK. Zacks Investment Research lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. MKM Partners reissued a “buy” rating and issued a $286.00 price objective (up previously from $255.00) on shares of Mohawk Industries in a research note on Wednesday. Royal Bank Of Canada reissued a “buy” rating and issued a $291.00 price objective on shares of Mohawk Industries in a research note on Monday, July 31st. BidaskClub lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Finally, Credit Suisse Group assumed coverage on shares of Mohawk Industries in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $266.64.
In other Mohawk Industries news, VP Rodney David Patton sold 387 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $242.00, for a total value of $93,654.00. Following the completion of the sale, the vice president now directly owns 7,061 shares in the company, valued at $1,708,762. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suzanne L. Helen sold 6,200 shares of the stock in a transaction dated 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. Insiders sold 7,587 shares of company stock valued at $1,823,768 in the last quarter. 17.10% of the stock is currently 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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