Huntington National Bank decreased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 13.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,693 shares of the company’s stock after selling 2,040 shares during the period. Huntington National Bank’s holdings in Mohawk Industries were worth $3,068,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of MHK. Vanguard Group Inc. raised its position in Mohawk Industries by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,987,177 shares of the company’s stock valued at $1,373,997,000 after buying an additional 185,698 shares during the period. JPMorgan Chase & Co. raised its position in Mohawk Industries by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 4,616,502 shares of the company’s stock valued at $1,059,441,000 after buying an additional 159,231 shares during the period. BlackRock Inc. raised its position in Mohawk Industries by 3,286.0% in the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock valued at $992,431,000 after buying an additional 4,196,790 shares during the period. FMR LLC raised its position in Mohawk Industries by 5.5% in the first quarter. FMR LLC now owns 2,690,837 shares of the company’s stock valued at $617,520,000 after buying an additional 139,080 shares during the period. Finally, Egerton Capital UK LLP raised its position in Mohawk Industries by 3.1% in the first quarter. Egerton Capital UK LLP now owns 1,432,719 shares of the company’s stock valued at $328,795,000 after buying an additional 42,925 shares during the period. 76.31% of the stock is owned by hedge funds and other institutional investors.
Shares of Mohawk Industries, Inc. (NYSE:MHK) opened at 245.43 on Friday. The stock’s market capitalization is $18.24 billion. The company has a 50-day moving average of $245.96 and a 200 day moving average of $234.13. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $252.89.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.12. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the company earned $3.47 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Equities research analysts forecast that Mohawk Industries, Inc. will post $13.53 earnings per share for the current fiscal year.
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MHK has been the subject of several recent analyst reports. BidaskClub lowered shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $267.00 price target on shares of Mohawk Industries in a report on Monday, May 1st. MKM Partners reissued a “buy” rating and issued a $255.00 price target on shares of Mohawk Industries in a report on Tuesday, April 18th. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price on the stock in a research note on Tuesday, July 4th. Finally, Instinet reaffirmed a “buy” rating and set a $280.00 target price on shares of Mohawk Industries in a research note on Friday, April 14th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Mohawk Industries presently has a consensus rating of “Buy” and an average target price of $266.64.
In other news, VP Rodney David Patton sold 387 shares of Mohawk Industries stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $242.00, for a total value of $93,654.00. Following the transaction, the vice president now directly owns 7,061 shares of the company’s stock, valued at approximately $1,708,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cock Frans Georges De sold 1,000 shares of Mohawk Industries stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $238.27, for a total value of $238,270.00. Following the completion of the transaction, the director now directly owns 13,016 shares in the company, valued at $3,101,322.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,587 shares of company stock worth $1,823,768. 17.10% of the stock is owned by corporate insiders.
Mohawk Industries Company Profile
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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