Sumitomo Life Insurance Co. purchased a new position in Mohawk Industries, Inc. (NYSE:MHK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,996 shares of the company’s stock, valued at approximately $1,691,000.
A number of other hedge funds also recently modified their holdings of the company. UBS Asset Management Americas Inc. increased its stake in shares of Mohawk Industries by 9.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 164,012 shares of the company’s stock worth $32,751,000 after buying an additional 14,650 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in Mohawk Industries during the fourth quarter valued at $913,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Mohawk Industries during the fourth quarter valued at $408,000. Pensionfund Sabic acquired a new stake in Mohawk Industries during the first quarter valued at $1,606,000. Finally, Pensionfund DSM Netherlands acquired a new stake in Mohawk Industries during the first quarter valued at $3,167,000. Institutional investors own 76.50% of the company’s stock.
Shares of Mohawk Industries, Inc. (NYSE:MHK) opened at 248.97 on Friday. The stock’s 50 day moving average price is $246.74 and its 200-day moving average price is $235.35. Mohawk Industries, Inc. has a 52 week low of $175.52 and a 52 week high of $252.89. The stock’s market cap is $18.51 billion.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.12. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.47 EPS. Equities analysts anticipate that Mohawk Industries, Inc. will post $13.52 earnings per share for the current fiscal year.
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MHK has been the subject of several research analyst reports. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 target price on shares of Mohawk Industries in a research report on Monday, May 1st. Stifel Nicolaus lifted their target price on Mohawk Industries from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. BidaskClub downgraded Mohawk Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research upgraded Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price objective for the company in a report on Tuesday, July 4th. Finally, MKM Partners restated a “buy” rating and issued a $286.00 price objective (up from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Mohawk Industries presently has a consensus rating of “Buy” and a consensus target price of $266.64.
In other Mohawk Industries news, insider Suzanne L. Helen sold 6,200 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $240.62, for a total transaction of $1,491,844.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Rodney David Patton sold 137 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $246.78, for a total value of $33,808.86. Following the transaction, the vice president now directly owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,724 shares of company stock valued at $1,857,577. 17.10% of the stock is currently owned by corporate insiders.
About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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