First American Trust FSB boosted its position in Mohawk Industries, Inc. (NYSE:MHK) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,532 shares of the company’s stock after acquiring an additional 1,040 shares during the quarter. First American Trust FSB’s holdings in Mohawk Industries were worth $3,168,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Retirement Systems of Alabama raised its position in Mohawk Industries by 0.3% in the second quarter. Retirement Systems of Alabama now owns 28,707 shares of the company’s stock valued at $4,233,000 after purchasing an additional 88 shares during the period. Commonwealth Bank of Australia raised its position in Mohawk Industries by 1.1% in the second quarter. Commonwealth Bank of Australia now owns 10,702 shares of the company’s stock valued at $1,573,000 after purchasing an additional 117 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Mohawk Industries by 0.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,883 shares of the company’s stock valued at $1,900,000 after purchasing an additional 118 shares during the period. Securian Asset Management Inc increased its position in shares of Mohawk Industries by 2.1% during the second quarter. Securian Asset Management Inc now owns 6,414 shares of the company’s stock worth $946,000 after acquiring an additional 132 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of Mohawk Industries by 1.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 8,040 shares of the company’s stock worth $1,186,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 83.00% of the company’s stock.
Mohawk Industries stock traded up $0.18 during midday trading on Thursday, hitting $123.31. The stock had a trading volume of 21,992 shares, compared to its average volume of 705,831. The company has a current ratio of 1.30, a quick ratio of 0.66 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.95 billion, a P/E ratio of 10.01, a P/E/G ratio of 2.45 and a beta of 1.32. Mohawk Industries, Inc. has a 12 month low of $108.93 and a 12 month high of $162.96. The business has a fifty day moving average price of $120.42 and a 200 day moving average price of $132.55.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.87 by $0.02. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.65 billion. Mohawk Industries had a return on equity of 10.50% and a net margin of 7.79%. Mohawk Industries’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $3.51 earnings per share. On average, equities analysts anticipate that Mohawk Industries, Inc. will post 9.96 EPS for the current fiscal year.
In related news, Director Filip Balcaen bought 12,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $109.98 per share, for a total transaction of $1,374,750.00. Following the completion of the purchase, the director now directly owns 1,519 shares in the company, valued at approximately $167,059.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cock Paul F. De sold 800 shares of Mohawk Industries stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $126.44, for a total value of $101,152.00. Following the completion of the transaction, the insider now owns 25,360 shares of the company’s stock, valued at $3,206,518.40. The disclosure for this sale can be found here. 18.00% of the stock is owned by insiders.
A number of brokerages have recently issued reports on MHK. JPMorgan Chase & Co. dropped their target price on Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating on the stock in a research report on Monday, July 29th. Nomura dropped their target price on Mohawk Industries from $176.00 to $167.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Loop Capital lifted their target price on Mohawk Industries to $145.00 and gave the stock a “hold” rating in a research report on Friday, June 14th. ValuEngine raised Mohawk Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research lowered Mohawk Industries from a “hold” rating to a “sell” rating and set a $131.00 target price on the stock. in a research report on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $137.12.
Mohawk Industries 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).
Want to see what other hedge funds are holding MHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mohawk Industries, Inc. (NYSE:MHK).