Dupont Capital Management Corp reduced its position in Mohawk Industries, Inc. (NYSE:MHK) by 94.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,791 shares of the company’s stock after selling 28,613 shares during the period. Dupont Capital Management Corp’s holdings in Mohawk Industries were worth $209,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co increased its position in shares of Mohawk Industries by 66.1% in the fourth quarter. CENTRAL TRUST Co now owns 407 shares of the company’s stock worth $48,000 after acquiring an additional 162 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Mohawk Industries in the fourth quarter worth approximately $87,000. SRS Capital Advisors Inc. purchased a new position in shares of Mohawk Industries in the third quarter worth approximately $118,000. Amica Retiree Medical Trust increased its position in shares of Mohawk Industries by 134.3% in the third quarter. Amica Retiree Medical Trust now owns 848 shares of the company’s stock worth $149,000 after acquiring an additional 486 shares in the last quarter. Finally, Legacy Financial Advisors Inc. increased its position in shares of Mohawk Industries by 290.4% in the fourth quarter. Legacy Financial Advisors Inc. now owns 1,300 shares of the company’s stock worth $152,000 after acquiring an additional 967 shares in the last quarter. 78.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of MHK opened at $139.77 on Thursday. Mohawk Industries, Inc. has a 52 week low of $109.35 and a 52 week high of $253.55. The company has a market cap of $10.37 billion, a P/E ratio of 11.32, a P/E/G ratio of 2.17 and a beta of 1.49. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, February 7th. The company reported $2.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.04. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Mohawk Industries had a net margin of 8.63% and a return on equity of 12.40%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.42 earnings per share. On average, equities research analysts predict that Mohawk Industries, Inc. will post 11.24 EPS for the current year.
Mohawk Industries announced that its board has initiated a share buyback plan on Thursday, October 25th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several research firms have recently weighed in on MHK. Zacks Investment Research raised shares of Mohawk Industries from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Wells Fargo & Co boosted their price objective on shares of Mohawk Industries from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Monday, February 11th. Loop Capital boosted their price objective on shares of Mohawk Industries to $126.00 and gave the company an “underperform” rating in a research report on Friday, February 8th. SunTrust Banks boosted their price objective on shares of Mohawk Industries to $150.00 and gave the company a “buy” rating in a research report on Monday, February 11th. They noted that the move was a valuation call. Finally, Buckingham Research started coverage on shares of Mohawk Industries in a research report on Friday, February 1st. They set an “underperform” rating and a $116.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $168.94.
In other Mohawk Industries news, Director Filip Balcaen bought 9,000 shares of Mohawk Industries stock in a transaction on Wednesday, December 26th. The stock was purchased at an average cost of $109.76 per share, for a total transaction of $987,840.00. Following the completion of the purchase, the director now directly owns 776 shares of the company’s stock, valued at $85,173.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzanne L. Helen sold 14,247 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $140.43, for a total transaction of $2,000,706.21. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 216,046 shares of company stock valued at $26,149,264 and sold 25,652 shares valued at $3,467,296. 16.80% of the stock is owned by insiders.
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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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