PCJ Investment Counsel Ltd. cut its stake in shares of Mohawk Industries (NYSE:MHK) by 60.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,500 shares of the company’s stock after selling 5,330 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Mohawk Industries were worth $813,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of MHK. NuWave Investment Management LLC acquired a new position in Mohawk Industries during the fourth quarter valued at approximately $117,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Mohawk Industries in the first quarter valued at approximately $161,000. Calton & Associates Inc. acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at approximately $171,000. Tower Research Capital LLC TRC acquired a new stake in shares of Mohawk Industries in the fourth quarter valued at approximately $174,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Mohawk Industries in the first quarter valued at approximately $206,000. 78.56% of the stock is owned by hedge funds and other institutional investors.
In other Mohawk Industries news, insider John C. Turner, Jr. sold 1,248 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $246.97, for a total transaction of $308,218.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Frank H. Boykin sold 1,388 shares of the firm’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $248.26, for a total value of $344,584.88. Following the transaction, the chief financial officer now owns 17,505 shares in the company, valued at approximately $4,345,791.30. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 102,157 shares of company stock worth $21,387,408 and have sold 4,612 shares worth $1,139,227. 16.80% of the stock is owned by company insiders.
Shares of NYSE MHK opened at $205.82 on Thursday. The company has a market cap of $15.35 billion, a PE ratio of 15.12, a PEG ratio of 1.30 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 1.54. Mohawk Industries has a 1-year low of $202.75 and a 1-year high of $286.85.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, April 26th. The company reported $3.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.00 by $0.01. Mohawk Industries had a return on equity of 15.05% and a net margin of 10.12%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the company earned $2.72 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. equities research analysts predict that Mohawk Industries will post 15.42 earnings per share for the current year.
A number of analysts have recently issued reports on MHK shares. Goldman Sachs Group cut Mohawk Industries from a “conviction-buy” rating to a “buy” rating and cut their price objective for the company from $306.00 to $292.00 in a research report on Thursday, March 1st. JPMorgan Chase & Co. cut their price objective on Mohawk Industries from $282.00 to $250.00 and set a “neutral” rating for the company in a research report on Tuesday, May 1st. Zacks Investment Research cut Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, April 20th. Longbow Research raised Mohawk Industries from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. Finally, Barclays set a $278.00 price objective on Mohawk Industries and gave the company a “buy” rating in a research report on Monday, April 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $280.67.
About Mohawk Industries
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).
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