Aberdeen Asset Management PLC UK Increases Stake in Mohawk Industries, Inc. (MHK)
Aberdeen Asset Management PLC UK increased its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 8.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,303 shares of the company’s stock after purchasing an additional 1,219 shares during the period. Aberdeen Asset Management PLC UK’s holdings in Mohawk Industries were worth $3,699,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. First Personal Financial Services boosted its stake in shares of Mohawk Industries by 6.6% in the 2nd quarter. First Personal Financial Services now owns 568 shares of the company’s stock valued at $137,000 after purchasing an additional 35 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Mohawk Industries by 18.6% in the 2nd quarter. IFP Advisors Inc now owns 625 shares of the company’s stock valued at $151,000 after purchasing an additional 98 shares in the last quarter. First Manhattan Co. purchased a new stake in shares of Mohawk Industries in the 2nd quarter valued at $160,000. Meeder Asset Management Inc. purchased a new stake in shares of Mohawk Industries in the 1st quarter valued at $179,000. Finally, Bahl & Gaynor Inc. purchased a new stake in shares of Mohawk Industries in the 1st quarter valued at $202,000. 76.97% of the stock is owned by institutional investors.
In other Mohawk Industries news, VP Rodney David Patton sold 137 shares of Mohawk Industries stock in a transaction on Friday, August 11th. The shares were sold at an average price of $246.78, for a total transaction of $33,808.86. Following the completion of the transaction, the vice president now directly owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries stock in a transaction 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 transaction, the chairman now directly owns 21,396 shares of the company’s stock, valued at $5,454,910.20. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.
Shares of Mohawk Industries, Inc. (MHK) opened at 254.67 on Friday. Mohawk Industries, Inc. has a 12 month low of $175.52 and a 12 month high of $259.91. The firm’s 50-day moving average is $251.03 and its 200 day moving average is $239.71. The stock’s market cap is $18.93 billion.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.60 by $0.12. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. Mohawk Industries’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.47 earnings per share. On average, equities analysts predict that Mohawk Industries, Inc. will post $13.52 EPS for the current year.
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A number of brokerages have recently issued reports on MHK. BidaskClub cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Zacks Investment Research cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. MKM Partners reaffirmed 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, August 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $291.00 price objective on shares of Mohawk Industries in a research note on Monday, July 31st. Finally, Credit Suisse Group began coverage on shares of Mohawk Industries in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Mohawk Industries presently has an average rating of “Buy” and an average price target of $266.64.
Mohawk Industries 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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