Epoch Investment Partners Inc. purchased a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 801,955 shares of the company’s stock, valued at approximately $171,834,000. Epoch Investment Partners Inc. owned approximately 1.08% of Mohawk Industries at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. Tocqueville Asset Management L.P. raised its position in shares of Mohawk Industries by 19.2% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 2,145 shares of the company’s stock worth $460,000 after buying an additional 345 shares in the last quarter. BB&T Securities LLC raised its position in shares of Mohawk Industries by 31.0% during the 2nd quarter. BB&T Securities LLC now owns 12,456 shares of the company’s stock worth $2,668,000 after buying an additional 2,950 shares in the last quarter. Weitz Investment Management Inc. bought a new stake in shares of Mohawk Industries during the 2nd quarter worth about $15,211,000. Glen Harbor Capital Management LLC raised its position in shares of Mohawk Industries by 21.4% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 4,250 shares of the company’s stock worth $911,000 after buying an additional 748 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Mohawk Industries during the 2nd quarter worth about $8,742,000. Institutional investors own 81.58% of the company’s stock.
In other Mohawk Industries news, Director Filip Balcaen bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average cost of $181.00 per share, for a total transaction of $1,810,000.00. Following the acquisition, the director now directly owns 776 shares of the company’s stock, valued at $140,456. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders purchased a total of 110,000 shares of company stock worth $20,167,250 over the last quarter. Insiders own 16.80% of the company’s stock.
NYSE MHK opened at $191.00 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.99 and a current ratio of 1.74. Mohawk Industries, Inc. has a 12 month low of $177.00 and a 12 month high of $286.85. The company has a market capitalization of $14.29 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 2.02 and a beta of 1.31.
Mohawk Industries (NYSE:MHK) last released its earnings results on Wednesday, July 25th. The company reported $3.51 EPS for the quarter, missing analysts’ consensus estimates of $3.90 by ($0.39). Mohawk Industries had a return on equity of 14.35% and a net margin of 9.34%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the previous year, the firm earned $3.72 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. research analysts expect that Mohawk Industries, Inc. will post 13.71 EPS for the current fiscal year.
MHK has been the topic of a number of recent analyst reports. SunTrust Banks restated a “buy” rating and set a $270.00 price target on shares of Mohawk Industries in a research report on Friday, July 27th. Zacks Investment Research downgraded shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. JPMorgan Chase & Co. dropped their price target on shares of Mohawk Industries to $190.00 and set a “neutral” rating on the stock in a research report on Monday, July 30th. They noted that the move was a valuation call. Jefferies Financial Group dropped their price target on shares of Mohawk Industries from $294.00 to $268.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Finally, Raymond James downgraded shares of Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a report on Friday, July 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $254.07.
About Mohawk Industries
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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