Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by BB&T Corp

BB&T Corp decreased its position in Mohawk Industries, Inc. (NYSE:MHK) by 21.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,577 shares of the company’s stock after selling 442 shares during the period. BB&T Corp’s holdings in Mohawk Industries were worth $381,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. National Pension Service boosted its stake in Mohawk Industries by 5.4% in the first quarter. National Pension Service now owns 59,074 shares of the company’s stock valued at $13,523,000 after buying an additional 3,037 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Mohawk Industries during the first quarter valued at $1,278,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Mohawk Industries during the fourth quarter valued at $408,000. Mn Services Vermogensbeheer B.V. boosted its stake in Mohawk Industries by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,663 shares of the company’s stock valued at $357,000 after buying an additional 49 shares during the last quarter. Finally, Bank of Nova Scotia boosted its stake in Mohawk Industries by 23.2% in the first quarter. Bank of Nova Scotia now owns 21,824 shares of the company’s stock valued at $5,009,000 after buying an additional 4,108 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries, Inc. (MHK) opened at 248.97 on Friday. Mohawk Industries, Inc. has a 52 week low of $175.52 and a 52 week high of $252.89. The stock’s market cap is $18.51 billion. The firm’s 50-day moving average price is $246.74 and its 200-day moving average price is $235.35.

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 the consensus estimate of $3.60 by $0.12. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. Mohawk Industries’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.47 earnings per share. Equities analysts predict that Mohawk Industries, Inc. will post $13.52 earnings per share for the current fiscal year.

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Several equities analysts have recently commented on MHK shares. BidaskClub upgraded Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Zacks Investment Research upgraded Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price objective on the stock in a research report on Tuesday, July 4th. Royal Bank Of Canada reiterated a “buy” rating and set a $267.00 price objective on shares of Mohawk Industries in a research report on Monday, May 1st. Stifel Nicolaus increased their price objective on Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Finally, Credit Suisse Group began coverage on Mohawk Industries in a research report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 price target on the stock. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $266.64.

In other news, insider Suzanne L. Helen sold 6,200 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $240.62, for a total transaction of $1,491,844.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Rodney David Patton sold 137 shares of the stock in a transaction on Friday, August 11th. The shares were 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 of the company’s stock, valued at approximately $1,708,704.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,724 shares of company stock valued at $1,857,577. 17.10% of the stock is owned by company insiders.

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.

Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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