Dynamic Capital Management Ltd Purchases 402 Shares of Mohawk Industries, Inc. (MHK)
Dynamic Capital Management Ltd increased its position in Mohawk Industries, Inc. (NYSE:MHK) by 37.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,470 shares of the company’s stock after acquiring an additional 402 shares during the quarter. Dynamic Capital Management Ltd’s holdings in Mohawk Industries were worth $406,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. NuWave Investment Management LLC purchased a new stake in Mohawk Industries in the 4th quarter worth about $117,000. Cerebellum GP LLC purchased a new stake in Mohawk Industries in the 4th quarter worth about $124,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Mohawk Industries in the 4th quarter worth about $124,000. Calton & Associates Inc. purchased a new stake in Mohawk Industries in the 4th quarter worth about $171,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Mohawk Industries in the 4th quarter worth about $174,000. 78.09% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on MHK shares. Goldman Sachs Group lowered Mohawk Industries from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the stock from $306.00 to $292.00 in a report on Thursday, March 1st. Zacks Investment Research lowered Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Longbow Research raised Mohawk Industries from a “neutral” rating to a “buy” rating in a report on Monday, February 12th. Robert W. Baird reduced their target price on Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Finally, ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $293.07.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, February 8th. The company reported $3.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.32 by $0.10. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Mohawk Industries had a return on equity of 15.44% and a net margin of 10.24%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $3.26 EPS. sell-side analysts forecast that Mohawk Industries, Inc. will post 15.66 earnings per share for the current year.
In other news, insider Bernard Thiers sold 17,383 shares of Mohawk Industries stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $250.00, for a total transaction of $4,345,750.00. Following the completion of the sale, the insider now owns 50,003 shares in the company, valued at approximately $12,500,750. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William Henry Runge III purchased 500 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average price of $250.87 per share, with a total value of $125,435.00. Following the transaction, the director now owns 2,335 shares in the company, valued at approximately $585,781.45. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 29,983 shares of company stock valued at $7,464,138. Corporate insiders own 17.00% of the company’s stock.
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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