KG&L Capital Management LLC boosted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 11.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,920 shares of the company’s stock after acquiring an additional 200 shares during the quarter. KG&L Capital Management LLC’s holdings in Mohawk Industries were worth $238,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. HighTower Advisors LLC bought a new stake in Mohawk Industries during the 2nd quarter worth about $201,000. Natixis Advisors L.P. grew 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 worth $2,135,000 after acquiring an additional 3,355 shares during the last quarter. First Hawaiian Bank grew its holdings in Mohawk Industries by 485.0% during the 2nd quarter. First Hawaiian Bank now owns 1,755 shares of the company’s stock worth $258,000 after acquiring an additional 1,455 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Mohawk Industries during the 2nd quarter worth about $292,000. Finally, Retirement Systems of Alabama grew its holdings in Mohawk Industries by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 28,707 shares of the company’s stock worth $4,233,000 after acquiring an additional 88 shares during the last quarter. 83.00% of the stock is currently owned by hedge funds and other institutional investors.
MHK has been the topic of a number of research analyst reports. National Securities initiated coverage on shares of Mohawk Industries in a report on Thursday, July 11th. They set a “buy” rating on the stock. Stifel Nicolaus set a $145.00 price objective on shares of Mohawk Industries and gave the stock a “buy” rating in a report on Friday, August 16th. Wells Fargo & Co upgraded shares of Mohawk Industries from an “underperform” rating to a “market perform” rating and set a $115.00 target price on the stock in a research report on Tuesday, August 20th. Loop Capital upped their target price on shares of Mohawk Industries to $145.00 and gave the company a “hold” rating in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating on the stock in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $137.12.
Mohawk Industries stock traded up $0.99 during trading hours on Friday, reaching $124.40. 49,053 shares of the company’s stock traded hands, compared to its average volume of 701,736. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.66 and a current ratio of 1.30. Mohawk Industries, Inc. has a fifty-two week low of $108.93 and a fifty-two week high of $161.44. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 2.41 and a beta of 1.32. The firm’s 50 day moving average is $120.63 and its 200-day moving average is $132.54.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 25th. The company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.02. Mohawk Industries had a net margin of 7.79% and a return on equity of 10.50%. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the company posted $3.51 EPS. The company’s revenue was up .3% compared to the same quarter last year. Analysts predict that Mohawk Industries, Inc. will post 9.96 EPS for the current year.
In other news, Director Bruce Bruckmann purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $117.69 per share, for a total transaction of $235,380.00. Following the transaction, the director now directly owns 286,691 shares of the company’s stock, valued at approximately $33,740,663.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Filip Balcaen purchased 12,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $109.98 per share, for a total transaction of $1,374,750.00. Following the completion of the transaction, the director now directly owns 1,519 shares in the company, valued at $167,059.62. The disclosure for this purchase can be found here. Company insiders own 18.00% of the company’s stock.
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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