British Airways Pensions Investment Management Ltd continued to hold its position in shares of Mohawk Industries Inc. (NYSE:MHK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,200 shares of the company’s stock at the end of the second quarter. British Airways Pensions Investment Management Ltd owned 0.13% of Mohawk Industries worth $17,946,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of MHK. JPMorgan Chase & Co. increased its position in shares of Mohawk Industries by 16.7% in the first quarter. JPMorgan Chase & Co. now owns 4,981,166 shares of the company’s stock valued at $950,904,000 after buying an additional 711,870 shares during the period. Norges Bank bought a new position in shares of Mohawk Industries during the fourth quarter valued at about $108,114,000. Wellington Management Group LLP increased its position in shares of Mohawk Industries by 31.2% in the first quarter. Wellington Management Group LLP now owns 1,223,361 shares of the company’s stock valued at $233,538,000 after buying an additional 290,953 shares during the period. Bessemer Group Inc. increased its position in shares of Mohawk Industries by 2,418.3% in the first quarter. Bessemer Group Inc. now owns 295,248 shares of the company’s stock valued at $56,363,000 after buying an additional 283,524 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Mohawk Industries during the first quarter valued at about $30,391,000. Institutional investors and hedge funds own 78.64% of the company’s stock.
Mohawk Industries Inc. (NYSE:MHK) traded up 0.13% during mid-day trading on Thursday, reaching $206.68. The company had a trading volume of 418,810 shares. The firm’s 50-day moving average is $209.99 and its 200-day moving average is $198.16. Mohawk Industries Inc. has a one year low of $148.56 and a one year high of $216.58. The firm’s market capitalization is $15.33 billion.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, August 4th. The company reported $3.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.36 by $0.11. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Mohawk Industries had a return on equity of 17.22% and a net margin of 9.65%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.69 earnings per share. On average, equities research analysts anticipate that Mohawk Industries Inc. will post $12.46 earnings per share for the current fiscal year.
A number of research analysts have issued reports on MHK shares. Goldman Sachs Group Inc. restated a “buy” rating on shares of Mohawk Industries in a research report on Wednesday, July 6th. Zacks Investment Research downgraded shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. MKM Partners upped their target price on shares of Mohawk Industries from $244.00 to $246.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Gabelli started coverage on shares of Mohawk Industries in a research report on Tuesday, August 9th. They set a “buy” rating on the stock. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Mohawk Industries in a research report on Tuesday, June 28th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mohawk Industries currently has an average rating of “Buy” and an average price target of $224.50.
In other news, insider Brian Carson sold 215 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $213.38, for a total transaction of $45,876.70. Following the sale, the insider now directly owns 30,929 shares in the company, valued at $6,599,630.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $212.07, for a total value of $1,908,630.00. The disclosure for this sale can be found here. Insiders own 17.10% of the company’s stock.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.