Raymond James Financial Services Advisors Inc. Decreases Position in Mohawk Industries, Inc. (MHK)
Raymond James Financial Services Advisors Inc. trimmed its position in Mohawk Industries, Inc. (NYSE:MHK) by 0.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,184 shares of the company’s stock after selling 506 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.15% of Mohawk Industries worth $27,114,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Glenview Capital Management LLC grew its stake in Mohawk Industries by 17.7% in the second quarter. Glenview Capital Management LLC now owns 422,233 shares of the company’s stock worth $102,049,000 after purchasing an additional 63,346 shares in the last quarter. Newbrook Capital Advisors LP grew its stake in Mohawk Industries by 405.1% in the second quarter. Newbrook Capital Advisors LP now owns 193,175 shares of the company’s stock worth $46,688,000 after purchasing an additional 154,932 shares in the last quarter. Sciencast Management LP acquired a new position in Mohawk Industries in the second quarter worth about $814,000. Janus Henderson Group PLC grew its stake in Mohawk Industries by 399.2% in the second quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock worth $8,312,000 after purchasing an additional 27,503 shares in the last quarter. Finally, Fred Alger Management Inc. grew its stake in Mohawk Industries by 37.0% in the second quarter. Fred Alger Management Inc. now owns 9,500 shares of the company’s stock worth $2,296,000 after purchasing an additional 2,566 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.
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Shares of Mohawk Industries, Inc. (NYSE MHK) traded up 0.06% during trading on Monday, reaching $256.93. The company’s stock had a trading volume of 102,335 shares. The company’s 50-day moving average price is $251.74 and its 200 day moving average price is $242.00. The stock’s market capitalization is $19.10 billion. Mohawk Industries, Inc. has a 1-year low of $175.52 and a 1-year high of $259.91.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.60 by $0.12. The business had revenue of $2.45 billion for 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 firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.47 earnings per share. Analysts anticipate that Mohawk Industries, Inc. will post $13.50 EPS for the current year.
A number of equities analysts recently commented on MHK shares. BidaskClub upgraded Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Credit Suisse Group started coverage on Mohawk Industries in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price target for the company. Zacks Investment Research upgraded Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price target for the company in a research note on Tuesday, July 4th. Royal Bank Of Canada reiterated a “buy” rating and issued a $267.00 price target on shares of Mohawk Industries in a research note on Monday, July 24th. Finally, MKM Partners reiterated a “buy” rating and issued a $286.00 price target (up from $255.00) on shares of Mohawk Industries in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Mohawk Industries currently has a consensus rating of “Buy” and an average price target of $270.33.
In related news, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $246.78, for a total value of $33,808.86. Following the sale, the vice president now 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 SEC, which is accessible through this hyperlink. Also, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the completion of the sale, the chairman now directly owns 21,396 shares in the company, valued at approximately $5,454,910.20. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.
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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