National Investment Services Inc. WI reduced its position in Mohawk Industries Inc. (NYSE:MHK) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,078 shares of the company’s stock after selling 680 shares during the period. Mohawk Industries makes up about 3.3% of National Investment Services Inc. WI’s portfolio, making the stock its 11th largest position. National Investment Services Inc. WI’s holdings in Mohawk Industries were worth $2,861,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. FDO Partners LLC increased its stake in Mohawk Industries by 634.7% in the first quarter. FDO Partners LLC now owns 7,854 shares of the company’s stock worth $1,499,000 after buying an additional 6,785 shares during the last quarter. CLS Investments LLC increased its position in Mohawk Industries by 10.1% in the first quarter. CLS Investments LLC now owns 2,463 shares of the company’s stock worth $470,000 after buying an additional 226 shares in the last quarter. Morris Capital Advisors LLC acquired a new position in Mohawk Industries during the first quarter worth $529,000. IFP Advisors Inc increased its position in Mohawk Industries by 1.9% in the first quarter. IFP Advisors Inc now owns 1,027 shares of the company’s stock worth $196,000 after buying an additional 19 shares in the last quarter. Finally, Virginia Retirement System acquired a new position in Mohawk Industries during the first quarter worth $711,000. Institutional investors own 78.04% of the company’s stock.
Mohawk Industries Inc. (NYSE:MHK) traded up 0.46% during mid-day trading on Monday, reaching $206.37. 472,991 shares of the company’s stock traded hands. The firm’s market cap is $15.30 billion. Mohawk Industries Inc. has a 1-year low of $148.56 and a 1-year high of $216.58. The firm has a 50 day moving average of $210.21 and a 200 day moving average of $197.90.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, August 4th. The company reported $3.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.36 by $0.11. The company earned $2.31 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $2.69 earnings per share. Analysts forecast that Mohawk Industries Inc. will post $12.46 EPS for the current year.
A number of research analysts have recently weighed in on the stock. Topeka Capital Markets assumed coverage on shares of Mohawk Industries in a report on Monday, May 23rd. They set a “hold” rating and a $185.00 price target on the stock. Royal Bank Of Canada raised their price target on shares of Mohawk Industries from $220.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Zacks Investment Research upgraded shares of Mohawk Industries from a “sell” rating to a “hold” rating and set a $238.00 price target on the stock in a report on Tuesday, August 9th. Credit Suisse Group AG restated a “buy” rating on shares of Mohawk Industries in a report on Tuesday, June 28th. Finally, RBC Capital Markets restated an “outperform” rating and set a $245.00 price target (up previously from $220.00) on shares of Mohawk Industries in a report on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Mohawk Industries presently has a consensus rating of “Buy” and an average price target of $224.18.
In other news, insider Suzanne L. Helen sold 4,600 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $216.00, for a total value of $993,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brian Carson sold 215 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $213.38, for a total transaction of $45,876.70. Following the completion of the sale, the insider now directly owns 30,929 shares in the company, valued at approximately $6,599,630.02. The disclosure for this sale can be found here. 17.10% of the stock is currently owned by insiders.
About Mohawk Industries
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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