BlackRock Inc. Boosts Holdings in Mohawk Industries, Inc. (MHK)
BlackRock Inc. raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,257,455 shares of the company’s stock after acquiring an additional 134,039 shares during the period. BlackRock Inc. owned approximately 0.08% of Mohawk Industries worth $1,340,786,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. purchased a new stake in Mohawk Industries during the first quarter valued at about $161,000. Piedmont Investment Advisors LLC purchased a new stake in Mohawk Industries during the second quarter valued at about $159,000. NuWave Investment Management LLC grew its position in Mohawk Industries by 686.4% during the second quarter. NuWave Investment Management LLC now owns 810 shares of the company’s stock valued at $173,000 after acquiring an additional 707 shares during the period. Cerebellum GP LLC boosted its position in shares of Mohawk Industries by 292.6% in the second quarter. Cerebellum GP LLC now owns 844 shares of the company’s stock worth $181,000 after buying an additional 629 shares during the period. Finally, Cornerstone Advisors Inc. boosted its position in shares of Mohawk Industries by 36.1% in the first quarter. Cornerstone Advisors Inc. now owns 886 shares of the company’s stock worth $206,000 after buying an additional 235 shares during the period. 81.58% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE MHK opened at $192.86 on Wednesday. Mohawk Industries, Inc. has a 1-year low of $177.00 and a 1-year high of $286.85. The company has a quick ratio of 0.99, a current ratio of 1.74 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $14.21 billion, a PE ratio of 14.17, a P/E/G ratio of 2.01 and a beta of 1.30.
In other Mohawk Industries news, Director Filip Balcaen purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average price of $181.00 per share, for a total transaction of $1,810,000.00. Following the completion of the purchase, the director now owns 776 shares in the company, valued at approximately $140,456. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 110,000 shares of company stock worth $20,167,250. Insiders own 16.80% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. ValuEngine downgraded Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Royal Bank of Canada decreased their target price on Mohawk Industries to $284.00 and set an “outperform” rating for the company in a research report on Tuesday, May 1st. JPMorgan Chase & Co. decreased their target price on Mohawk Industries from $282.00 to $250.00 and set a “neutral” rating for the company in a research report on Tuesday, May 1st. Finally, Credit Suisse Group set a $275.00 target price on Mohawk Industries and gave the stock a “buy” rating in a research report on Friday, June 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. Mohawk Industries currently has an average rating of “Buy” and an average price target of $254.07.
Mohawk Industries Company Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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