Louisiana State Employees Retirement System reduced its position in shares of Mohawk Industries Inc. (NYSE:MHK) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 4,200 shares of the company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Mohawk Industries were worth $797,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MHK. Checchi Capital Advisers LLC raised its stake in Mohawk Industries by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 843 shares of the company’s stock valued at $160,000 after buying an additional 18 shares during the period. IFP Advisors Inc raised its stake in Mohawk Industries by 1.9% in the first quarter. IFP Advisors Inc now owns 1,027 shares of the company’s stock valued at $196,000 after buying an additional 19 shares during the period. Meeder Asset Management Inc. acquired a new stake in Mohawk Industries during the first quarter valued at about $259,000. ING Groep NV acquired a new stake in Mohawk Industries during the first quarter valued at about $286,000. Finally, Telemus Capital LLC acquired a new stake in Mohawk Industries during the second quarter valued at about $380,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.
Mohawk Industries Inc. (NYSE:MHK) traded down 1.54% during mid-day trading on Friday, reaching $197.77. 426,052 shares of the company were exchanged. The stock’s market capitalization is $14.67 billion. The stock has a 50 day moving average of $206.64 and a 200-day moving average of $199.50. Mohawk Industries Inc. has a one year low of $148.56 and a one year high of $216.58.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, August 4th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.36 by $0.11. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.34 billion. Mohawk Industries had a net margin of 9.65% and a return on equity of 17.22%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.69 EPS. On average, equities analysts expect that Mohawk Industries Inc. will post $12.46 earnings per share for the current fiscal year.
MHK has been the topic of several research reports. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Mohawk Industries in a research report on Wednesday, July 6th. Bank of America Corp. initiated coverage on shares of Mohawk Industries in a research report on Friday, September 23rd. They issued a “neutral” rating and a $235.00 price target on the stock. Wells Fargo & Co. initiated coverage on shares of Mohawk Industries in a research report on Wednesday, September 28th. They issued a “market perform” rating on the stock. Zacks Investment Research lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Finally, MKM Partners boosted their price target on shares of Mohawk Industries from $244.00 to $246.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Mohawk Industries presently has an average rating of “Buy” and a consensus price target of $224.75.
In other news, insider Suzanne L. Helen sold 4,700 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $213.50, for a total transaction of $1,003,450.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Carson sold 1,942 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $214.28, for a total transaction of $416,131.76. Following the sale, the insider now directly owns 30,929 shares in the company, valued at approximately $6,627,466.12. The disclosure for this sale can be found here. Insiders own 17.10% of the company’s stock.
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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