Symphony Asset Management LLC boosted its stake in Mohawk Industries, Inc. (NYSE:MHK) by 20.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,566 shares of the company’s stock after purchasing an additional 1,274 shares during the quarter. Symphony Asset Management LLC’s holdings in Mohawk Industries were worth $1,828,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in MHK. Janney Montgomery Scott LLC grew its stake in Mohawk Industries by 3.8% during the first quarter. Janney Montgomery Scott LLC now owns 2,523 shares of the company’s stock worth $579,000 after buying an additional 93 shares during the period. Strs Ohio grew its stake in Mohawk Industries by 1.0% during the first quarter. Strs Ohio now owns 5,539 shares of the company’s stock worth $1,271,000 after buying an additional 54 shares during the period. Russell Investments Group Ltd. grew its stake in Mohawk Industries by 19.5% during the first quarter. Russell Investments Group Ltd. now owns 51,619 shares of the company’s stock worth $11,847,000 after buying an additional 8,411 shares during the period. IFP Advisors Inc grew its stake in Mohawk Industries by 5.6% during 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. Finally, Canada Pension Plan Investment Board grew its stake in Mohawk Industries by 62.9% during the first quarter. Canada Pension Plan Investment Board now owns 9,333 shares of the company’s stock worth $2,142,000 after buying an additional 3,605 shares during the period. Hedge funds and other institutional investors own 76.97% of the company’s stock.

Shares of Mohawk Industries, Inc. (NYSE MHK) remained flat at $258.08 on Tuesday. 27,631 shares of the company’s stock traded hands. The company’s market capitalization is $19.19 billion. Mohawk Industries, Inc. has a 12 month low of $175.52 and a 12 month high of $259.73. The company has a 50-day moving average price of $249.04 and a 200-day moving average price of $238.91.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, July 27th. The company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the company posted $3.47 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that Mohawk Industries, Inc. will post $13.52 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Mohawk Industries, Inc. (MHK) Position Raised by Symphony Asset Management LLC” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The original version of this story can be read at https://www.thecerbatgem.com/2017/09/12/mohawk-industries-inc-mhk-position-raised-by-symphony-asset-management-llc.html.

In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total value of $5,022,515.00. Following the sale, the chairman now owns 21,396 shares in the company, valued at $5,454,910.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Rodney David Patton sold 137 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $246.78, for a total transaction of $33,808.86. Following the completion of the sale, the vice president now owns 6,924 shares in the company, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,224 shares of company stock worth $5,149,978. 17.00% of the stock is currently owned by corporate insiders.

MHK has been the subject of several research reports. BidaskClub upgraded shares of Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price objective for the company in a research note on Tuesday, July 4th. Credit Suisse Group initiated coverage on shares of Mohawk Industries in a research note on Thursday, June 22nd. They set an “outperform” rating and a $274.00 price objective for the company. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 price objective on shares of Mohawk Industries in a research note on Monday, July 24th. Finally, ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $266.64.

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.

Institutional Ownership by Quarter for Mohawk Industries (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.