Riverhead Capital Management LLC boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 14.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,363 shares of the company’s stock after acquiring an additional 303 shares during the quarter. Riverhead Capital Management LLC’s holdings in Mohawk Industries were worth $506,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in MHK. BlackRock Inc. lifted its holdings in shares of Mohawk Industries by 2.2% during the 2nd quarter. BlackRock Inc. now owns 6,257,455 shares of the company’s stock valued at $1,340,786,000 after buying an additional 134,039 shares during the period. Hound Partners LLC lifted its holdings in shares of Mohawk Industries by 85.4% during the 1st quarter. Hound Partners LLC now owns 1,350,055 shares of the company’s stock valued at $313,510,000 after buying an additional 622,002 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Mohawk Industries by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,199,943 shares of the company’s stock valued at $278,651,000 after buying an additional 3,493 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Mohawk Industries by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,162,921 shares of the company’s stock valued at $270,054,000 after buying an additional 19,025 shares during the period. Finally, Standard Life Aberdeen plc lifted its holdings in shares of Mohawk Industries by 11.5% during the 2nd quarter. Standard Life Aberdeen plc now owns 1,150,190 shares of the company’s stock valued at $246,470,000 after buying an additional 118,966 shares during the period. 81.58% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MHK opened at $188.62 on Friday. 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 firm has a market capitalization of $14.23 billion, a PE ratio of 13.93, a P/E/G ratio of 2.01 and a beta of 1.31. Mohawk Industries, Inc. has a one year low of $177.00 and a one year high of $286.85.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Wednesday, July 25th. The company reported $3.51 EPS for the quarter, missing the consensus estimate of $3.90 by ($0.39). The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Mohawk Industries had a return on equity of 14.35% and a net margin of 9.34%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $3.72 earnings per share. sell-side analysts expect that Mohawk Industries, Inc. will post 13.71 EPS for the current fiscal year.
Several equities analysts have recently weighed in on MHK shares. Stifel Nicolaus lowered their price target on Mohawk Industries from $290.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Gabelli reissued a “buy” rating on shares of Mohawk Industries in a report on Friday, July 27th. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Northcoast Research set a $225.00 price target on Mohawk Industries and gave the company a “buy” rating in a report on Friday, July 27th. Finally, TheStreet cut Mohawk Industries from a “b-” rating to a “c+” rating in a report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $254.07.
In other news, insider Bernard Thiers sold 10,000 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $212.60, for a total value of $2,126,000.00. Following the completion of the sale, the insider now directly owns 45,156 shares in the company, valued at approximately $9,600,165.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Filip Balcaen acquired 50,000 shares of Mohawk Industries stock in a transaction dated Friday, July 27th. The stock was bought at an average price of $183.02 per share, with a total value of $9,151,000.00. Following the completion of the purchase, the director now directly owns 776 shares in the company, valued at $142,023.52. The disclosure for this purchase can be found here. Insiders bought a total of 110,000 shares of company stock valued at $20,167,250 over the last 90 days. 16.80% of the stock is currently owned by company insiders.
Mohawk Industries 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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