Westport Asset Management Inc. held its position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the second quarter, Holdings Channel reports. The fund owned 800 shares of the company’s stock at the end of the second quarter. Westport Asset Management Inc.’s holdings in Mohawk Industries were worth $193,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Mohawk Industries by 0.7% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,519 shares of the company’s stock valued at $349,000 after buying an additional 11 shares during the last quarter. BTC Capital Management Inc. increased its position in shares of Mohawk Industries by 1.1% in the first quarter. BTC Capital Management Inc. now owns 1,265 shares of the company’s stock valued at $289,000 after buying an additional 14 shares during the period. ING Groep NV increased its position in shares of Mohawk Industries by 0.4% in the second quarter. ING Groep NV now owns 4,877 shares of the company’s stock valued at $1,179,000 after buying an additional 19 shares during the period. IFP Advisors Inc increased its position in shares of Mohawk Industries by 5.6% in the first quarter. IFP Advisors Inc now owns 527 shares of the company’s stock valued at $121,000 after buying an additional 28 shares during the period. Finally, Cleararc Capital Inc. increased its position in shares of Mohawk Industries by 2.3% in the first quarter. Cleararc Capital Inc. now owns 1,550 shares of the company’s stock valued at $356,000 after buying an additional 35 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mohawk Industries, Inc. (NYSE:MHK) opened at 248.10 on Friday. The stock has a 50 day moving average of $246.47 and a 200 day moving average of $235.12. Mohawk Industries, Inc. has a 52 week low of $175.52 and a 52 week high of $252.89. The firm’s market cap is $18.44 billion.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data 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 company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the prior year, the business posted $3.47 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. Equities analysts forecast that Mohawk Industries, Inc. will post $13.52 earnings per share for the current year.
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Several equities analysts have commented on the company. BidaskClub downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Stifel Nicolaus increased their price target on Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 1st. Zacks Investment Research downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 price target on shares of Mohawk Industries in a report on Monday, July 24th. Finally, MKM Partners reiterated a “buy” rating and set a $286.00 price target (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Mohawk Industries presently has a consensus rating of “Buy” and a consensus target price of $266.64.
In related news, VP Rodney David Patton sold 137 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the sale, the vice president now owns 6,924 shares in the company, valued at approximately $1,708,704.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Suzanne L. Helen sold 6,200 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $240.62, for a total value of $1,491,844.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,724 shares of company stock worth $1,857,577. Company insiders own 17.10% of the company’s stock.
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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