Man Group plc boosted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2,036.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,738 shares of the company’s stock after purchasing an additional 47,410 shares during the period. Man Group plc owned about 0.07% of Mohawk Industries worth $6,171,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. HighTower Advisors LLC bought a new position in shares of Mohawk Industries during the second quarter valued at approximately $201,000. Natixis Advisors L.P. boosted its holdings in Mohawk Industries by 30.2% during the 2nd quarter. Natixis Advisors L.P. now owns 14,481 shares of the company’s stock valued at $2,135,000 after acquiring an additional 3,355 shares during the period. National Pension Service grew its position in Mohawk Industries by 5.5% in the 3rd quarter. National Pension Service now owns 94,910 shares of the company’s stock valued at $11,775,000 after acquiring an additional 4,955 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Mohawk Industries in the 2nd quarter valued at $292,000. Finally, World Asset Management Inc grew its position in Mohawk Industries by 5.9% in the 3rd quarter. World Asset Management Inc now owns 4,609 shares of the company’s stock valued at $572,000 after acquiring an additional 258 shares during the last quarter. Institutional investors own 79.56% of the company’s stock.
In other news, insider Suzanne L. Helen sold 7,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $138.94, for a total transaction of $972,580.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cock Paul F. De sold 1,489 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $145.14, for a total value of $216,113.46. Following the completion of the sale, the insider now directly owns 24,260 shares of the company’s stock, valued at approximately $3,521,096.40. The disclosure for this sale can be found here. Insiders sold 45,405 shares of company stock worth $6,703,341 over the last ninety days. Corporate insiders own 18.00% of the company’s stock.
Shares of NYSE MHK opened at $136.69 on Monday. The business has a fifty day moving average price of $141.09 and a 200 day moving average price of $134.22. Mohawk Industries, Inc. has a 1-year low of $108.93 and a 1-year high of $156.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.77. The stock has a market capitalization of $9.74 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.82 and a beta of 1.30.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, October 24th. The company reported $2.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.11. Mohawk Industries had a net margin of 7.09% and a return on equity of 9.82%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the firm posted $3.29 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.97 earnings per share for the current fiscal year.
Several research firms have recently weighed in on MHK. Stifel Nicolaus lifted their target price on Mohawk Industries from $145.00 to $165.00 in a research report on Monday, October 28th. Raymond James reduced their price target on shares of Mohawk Industries from $145.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. ValuEngine lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Wells Fargo & Co lowered Mohawk Industries from a “market perform” rating to an “underperform” rating and set a $110.00 price target for the company. in a report on Monday, October 14th. Finally, Deutsche Bank started coverage on Mohawk Industries in a research report on Wednesday, November 27th. They set a “hold” rating for the company. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $141.69.
Mohawk Industries Company 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).
Further Reading: Are sell-side analysts objective?
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