Axa lifted its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 16.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,900 shares of the company’s stock after purchasing an additional 4,287 shares during the period. Axa’s holdings in Mohawk Industries were worth $7,400,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of MHK. JPMorgan Chase & Co. lifted its holdings in Mohawk Industries by 8.9% in the second quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock worth $1,215,567,000 after buying an additional 412,942 shares during the period. Wells Fargo & Company MN lifted its holdings in Mohawk Industries by 143.5% in the second quarter. Wells Fargo & Company MN now owns 596,358 shares of the company’s stock worth $144,133,000 after buying an additional 351,457 shares during the period. BlackRock Inc. lifted its holdings in Mohawk Industries by 5.8% in the second quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock worth $1,105,842,000 after buying an additional 250,944 shares during the period. American Century Companies Inc. purchased a new stake in Mohawk Industries in the second quarter worth about $53,508,000. Finally, Vanguard Group Inc. lifted its holdings in Mohawk Industries by 3.3% in the second quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock worth $1,494,654,000 after buying an additional 196,996 shares during the period. Institutional investors own 76.50% of the company’s stock.
Several analysts have commented on MHK shares. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Stifel Nicolaus reiterated a “buy” rating and set a $270.00 target price on shares of Mohawk Industries in a report on Sunday, October 29th. Nomura set a $300.00 target price on shares of Mohawk Industries and gave the company a “buy” rating in a report on Friday, October 27th. SunTrust Banks reiterated a “buy” rating and set a $275.00 target price on shares of Mohawk Industries in a report on Friday, October 27th. Finally, Northcoast Research assumed coverage on shares of Mohawk Industries in a report on Thursday, October 5th. They set a “buy” rating and a $295.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. Mohawk Industries currently has a consensus rating of “Buy” and an average price target of $289.33.
Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 26th. The company reported $3.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.74 by $0.01. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.46 billion. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $3.50 earnings per share. sell-side analysts predict that Mohawk Industries, Inc. will post 13.52 EPS for the current fiscal year.
Mohawk Industries 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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