Rhumbline Advisers Has $13.88 Million Stake in Mohawk Industries, Inc. (MHK)

Rhumbline Advisers Has $13.88 Million Stake in Mohawk Industries, Inc. (MHK)

Rhumbline Advisers reduced its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 9.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 110,020 shares of the company’s stock after selling 10,907 shares during the quarter. Rhumbline Advisers’ holdings in Mohawk Industries were worth $13,879,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Montag A & Associates Inc. bought a new position in shares of Mohawk Industries during the 1st quarter valued at about $221,000. Parallel Advisors LLC lifted its holdings in shares of Mohawk Industries by 28.0% during the 1st quarter. Parallel Advisors LLC now owns 452 shares of the company’s stock valued at $57,000 after purchasing an additional 99 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of Mohawk Industries during the 1st quarter valued at about $856,000. Starr International Co. Inc. bought a new position in shares of Mohawk Industries during the 1st quarter valued at about $1,123,000. Finally, Tocqueville Asset Management L.P. lifted its holdings in shares of Mohawk Industries by 234.2% during the 1st quarter. Tocqueville Asset Management L.P. now owns 150,285 shares of the company’s stock valued at $18,958,000 after purchasing an additional 105,315 shares in the last quarter. Institutional investors own 81.58% of the company’s stock.

MHK stock opened at $134.21 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20. The company has a market cap of $9.50 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 2.37 and a beta of 1.53. Mohawk Industries, Inc. has a 1-year low of $109.35 and a 1-year high of $228.49.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 25th. The company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.06. Mohawk Industries had a return on equity of 11.36% and a net margin of 7.73%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm posted $3.01 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts forecast that Mohawk Industries, Inc. will post 10.77 EPS for the current year.

In other Mohawk Industries news, VP Rodney David Patton sold 2,260 shares of the company’s stock in a transaction 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 directly owns 9,134 shares of the company’s stock, valued at approximately $1,219,389. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 18.00% of the company’s stock.

MHK has been the topic of several recent analyst reports. Jefferies Financial Group upgraded Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $167.00 in a report on Tuesday, April 30th. Zacks Investment Research upgraded Mohawk Industries from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Stifel Nicolaus upgraded Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $180.00 in a report on Wednesday. Robert W. Baird set a $156.00 price objective on Mohawk Industries and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, Wells Fargo & Co lifted their price objective on Mohawk Industries from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Monday, February 11th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Mohawk Industries presently has an average rating of “Hold” and an average target price of $149.53.

Mohawk Industries Company Profile

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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