Mohawk Industries, Inc. (MHK) Stake Increased by Lincoln Capital LLC

Lincoln Capital LLC grew its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 10.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,211 shares of the company’s stock after buying an additional 857 shares during the quarter. Mohawk Industries comprises 0.6% of Lincoln Capital LLC’s investment portfolio, making the stock its 28th biggest holding. Lincoln Capital LLC’s holdings in Mohawk Industries were worth $1,162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. increased its stake in Mohawk Industries by 12.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 64,858 shares of the company’s stock valued at $7,585,000 after purchasing an additional 7,124 shares in the last quarter. Rhumbline Advisers increased its position in Mohawk Industries by 3.7% during the fourth quarter. Rhumbline Advisers now owns 120,927 shares of the company’s stock worth $14,144,000 after buying an additional 4,342 shares in the last quarter. Arnhold LLC increased its position in Mohawk Industries by 94.7% during the fourth quarter. Arnhold LLC now owns 78,680 shares of the company’s stock worth $9,202,000 after buying an additional 38,260 shares in the last quarter. Vanguard Group Inc increased its position in Mohawk Industries by 0.5% during the third quarter. Vanguard Group Inc now owns 6,421,024 shares of the company’s stock worth $1,125,927,000 after buying an additional 29,538 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Mohawk Industries by 11.4% during the third quarter. Legal & General Group Plc now owns 330,596 shares of the company’s stock worth $57,970,000 after buying an additional 33,749 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have weighed in on MHK shares. Zelman & Associates downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 19th. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Royal Bank of Canada cut Mohawk Industries from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from $129.00 to $115.00 in a research note on Friday, January 11th. Credit Suisse Group set a $125.00 price objective on Mohawk Industries and gave the stock a “hold” rating in a research note on Friday, January 11th. Finally, Buckingham Research began coverage on Mohawk Industries in a research note on Friday, February 1st. They set an “underperform” rating and a $116.00 price objective on the stock. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $166.55.

Shares of NYSE MHK traded down $2.10 during midday trading on Tuesday, reaching $129.48. 277,182 shares of the company’s stock were exchanged, compared to its average volume of 601,352. Mohawk Industries, Inc. has a 52-week low of $109.35 and a 52-week high of $247.13. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 2.05 and a beta of 1.52. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.38.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 7th. The company reported $2.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.04. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.43 billion. Mohawk Industries had a return on equity of 12.40% and a net margin of 8.63%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.42 earnings per share. As a group, research analysts predict that Mohawk Industries, Inc. will post 11.24 EPS for the current year.

In other news, insider Suzanne L. Helen sold 14,247 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $140.43, for a total transaction of $2,000,706.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Rodney David Patton sold 2,260 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total value of $301,710.00. Following the transaction, the vice president now owns 9,134 shares of the company’s stock, valued at $1,219,389. The disclosure for this sale can be found here. 16.80% of the stock is owned by insiders.

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About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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

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