Victory Capital Management Inc. Has $5.26 Million Holdings in Mohawk Industries, Inc. (MHK)
Victory Capital Management Inc. cut its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 41.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,758 shares of the company’s stock after selling 15,365 shares during the period. Victory Capital Management Inc.’s holdings in Mohawk Industries were worth $5,259,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. 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 in the last quarter. First Personal Financial Services raised its stake in Mohawk Industries by 6.6% in the second quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after buying an additional 35 shares in the last quarter. First Manhattan Co. acquired a new stake in Mohawk Industries in the second quarter valued at $160,000. Meeder Asset Management Inc. acquired a new stake in Mohawk Industries in the first quarter valued at $179,000. Finally, Bahl & Gaynor Inc. acquired a new stake in Mohawk Industries in the first quarter valued at $202,000. Institutional investors own 76.97% of the company’s stock.
A number of analysts have weighed in on MHK shares. Zacks Investment Research upgraded Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price target on the stock in a research note on Tuesday, July 4th. BidaskClub lowered Mohawk Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $267.00 price objective on shares of Mohawk Industries in a report on Monday, July 24th. MKM Partners reaffirmed a “buy” rating and set a $286.00 price objective (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Finally, Credit Suisse Group assumed coverage on Mohawk Industries in a report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 price objective on the stock. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Mohawk Industries has an average rating of “Buy” and a consensus price target of $266.64.
Mohawk Industries, Inc. (NYSE MHK) opened at 255.56 on Thursday. The company’s 50 day moving average price is $248.36 and its 200-day moving average price is $238.37. The stock’s market cap is $19.00 billion. Mohawk Industries, Inc. has a 12-month low of $175.52 and a 12-month high of $256.33.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.12. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.47 EPS. On average, analysts forecast that Mohawk Industries, Inc. will post $13.52 EPS for the current year.
In other news, Director Cock Frans Georges De sold 1,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $238.27, for a total transaction of $238,270.00. Following the completion of the sale, the director now owns 13,016 shares in the company, valued at approximately $3,101,322.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the sale, the chairman now owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The disclosure for this sale can be found here. Insiders sold a total of 27,424 shares of company stock valued at $6,880,092 in the last 90 days. Corporate insiders own 17.00% 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.
Want to see what other hedge funds are holding MHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mohawk Industries, Inc. (NYSE:MHK).
Receive News & Stock Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related stocks with our FREE daily email newsletter.