BlackRock Advisors LLC increased its stake in shares of Mohawk Industries Inc. (NYSE:MHK) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,756 shares of the company’s stock after buying an additional 960 shares during the period. BlackRock Advisors LLC owned 0.10% of Mohawk Industries worth $14,565,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Mohawk Industries by 16.7% in the first quarter. JPMorgan Chase & Co. now owns 4,981,166 shares of the company’s stock valued at $950,904,000 after buying an additional 711,870 shares during the last quarter. Wellington Management Group LLP raised its stake in Mohawk Industries by 31.2% in the first quarter. Wellington Management Group LLP now owns 1,223,361 shares of the company’s stock valued at $233,538,000 after buying an additional 290,953 shares during the last quarter. Bessemer Group Inc. raised its stake in Mohawk Industries by 2,418.3% in the first quarter. Bessemer Group Inc. now owns 295,248 shares of the company’s stock valued at $56,363,000 after buying an additional 283,524 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Mohawk Industries during the first quarter valued at about $30,391,000. Finally, Bank of Montreal Can bought a new stake in Mohawk Industries during the second quarter valued at about $30,208,000. 78.64% of the stock is owned by institutional investors and hedge funds.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, August 4th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.36 by $0.11. The firm earned $2.31 billion during the quarter, compared to analyst estimates of $2.34 billion. Mohawk Industries had a return on equity of 17.22% and a net margin of 9.65%. Mohawk Industries’s revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business posted $2.69 earnings per share.
MHK has been the subject of several analyst reports. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Mohawk Industries in a research note on Wednesday, July 6th. Bank of America Corp. assumed coverage on Mohawk Industries in a research note on Friday, September 23rd. They set a “neutral” rating and a $235.00 price target for the company. Zacks Investment Research lowered Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Wells Fargo & Co. assumed coverage on Mohawk Industries in a research note on Wednesday, September 28th. They set a “market perform” rating for the company. Finally, MKM Partners raised their price target on Mohawk Industries from $244.00 to $246.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $225.31.
In other Mohawk Industries news, VP Rodney David Patton sold 1,555 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $212.50, for a total value of $330,437.50. Following the sale, the vice president now directly owns 6,772 shares in the company, valued at $1,439,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzanne L. Helen sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $212.07, for a total value of $1,908,630.00. The disclosure for this sale can be found here. 17.10% of the stock is owned by company insiders.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.
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