Alpine Woods Capital Investors LLC increased its stake in Mohawk Industries, Inc. (NYSE:MHK) by 16.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,800 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Mohawk Industries were worth $2,426,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Columbus Circle Investors boosted its stake in Mohawk Industries by 3.8% in the 3rd quarter. Columbus Circle Investors now owns 123,128 shares of the company’s stock worth $30,475,000 after purchasing an additional 4,534 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Mohawk Industries by 14.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 511,663 shares of the company’s stock valued at $126,640,000 after acquiring an additional 63,558 shares during the period. Quantbot Technologies LP acquired a new stake in Mohawk Industries during the 3rd quarter valued at approximately $5,281,000. Putnam FL Investment Management Co. acquired a new stake in Mohawk Industries during the 3rd quarter valued at approximately $5,681,000. Finally, IBM Retirement Fund lifted its stake in Mohawk Industries by 72.4% during the 3rd quarter. IBM Retirement Fund now owns 1,593 shares of the company’s stock valued at $436,000 after acquiring an additional 669 shares during the period. Institutional investors own 76.74% of the company’s stock.
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Mohawk Industries, Inc. (NYSE:MHK) traded up $4.54 on Tuesday, hitting $276.74. 715,900 shares of the company traded hands, compared to its average volume of 486,139. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48. Mohawk Industries, Inc. has a 1 year low of $189.44 and a 1 year high of $278.20. The firm has a market cap of $20,230.00, a PE ratio of 20.24, a P/E/G ratio of 2.46 and a beta of 1.35.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.74 by $0.01. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the business posted $3.50 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. analysts forecast that Mohawk Industries, Inc. will post 13.52 earnings per share for the current fiscal year.
In related news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total value of $5,022,515.00. Following the completion of the transaction, the chairman now directly owns 21,396 shares in the company, valued at approximately $5,454,910.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 17.00% of the company’s stock.
Several brokerages have commented on MHK. MKM Partners restated a “buy” rating and set a $286.00 price objective (up from $255.00) on shares of Mohawk Industries in a research note on Wednesday, August 2nd. BidaskClub cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Northcoast Research began coverage on shares of Mohawk Industries in a research note on Thursday, October 5th. They set a “buy” rating and a $295.00 price objective for the company. Instinet restated a “buy” rating and set a $288.00 price objective (up from $280.00) on shares of Mohawk Industries in a research note on Saturday, September 30th. Finally, Barclays PLC lifted their price objective on shares of Mohawk Industries from $285.00 to $301.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $281.42.
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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