Janney Capital Management LLC Has $10.98 Million Position in Mohawk Industries, Inc. (MHK)

Janney Capital Management LLC cut its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,410 shares of the company’s stock after selling 1,468 shares during the period. Janney Capital Management LLC owned approximately 0.06% of Mohawk Industries worth $10,975,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Washington Trust Bank increased its position in Mohawk Industries by 81.1% in the first quarter. Washington Trust Bank now owns 480 shares of the company’s stock valued at $110,000 after buying an additional 215 shares in the last quarter. IFP Advisors Inc boosted its position in 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 in the last quarter. Meeder Asset Management Inc. purchased a new position in Mohawk Industries during the first quarter valued at about $179,000. Bahl & Gaynor Inc. purchased a new position in Mohawk Industries during the first quarter valued at about $202,000. Finally, IBM Retirement Fund boosted its position in Mohawk Industries by 34.7% in the second quarter. IBM Retirement Fund now owns 924 shares of the company’s stock valued at $223,000 after buying an additional 238 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Shares of Mohawk Industries, Inc. (NYSE MHK) opened at 248.97 on Friday. The stock’s market cap is $18.51 billion. Mohawk Industries, Inc. has a 1-year low of $175.52 and a 1-year high of $252.89. The company’s 50-day moving average is $246.74 and its 200 day moving average is $235.35.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.12. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the business earned $3.47 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. Equities research analysts anticipate that Mohawk Industries, Inc. will post $13.52 EPS for the current year.

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MHK has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $291.00 target price on shares of Mohawk Industries in a report on Monday, July 31st. BidaskClub upgraded shares of Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price target on the stock in a report on Tuesday, July 4th. Stifel Nicolaus lifted their price target on shares of Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 1st. Finally, Credit Suisse Group assumed coverage on shares of Mohawk Industries in a report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $266.64.

In other Mohawk Industries news, VP Rodney David Patton sold 137 shares of Mohawk Industries stock in a transaction on Friday, August 11th. The shares were sold at an average price of $246.78, for a total transaction of $33,808.86. Following the completion of the transaction, the vice president now directly owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cock Frans Georges De sold 1,000 shares of Mohawk Industries stock in a transaction on Monday, June 12th. The stock was sold at an average price of $238.27, for a total transaction of $238,270.00. Following the transaction, the director now directly owns 13,016 shares of the company’s stock, valued at $3,101,322.32. The disclosure for this sale can be found here. Insiders sold 7,724 shares of company stock valued at $1,857,577 over the last three months. 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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