Sound Shore Management Inc. CT bought a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 535,637 shares of the company's stock, valued at approximately $61,159,000. Sound Shore Management Inc. CT owned about 0.86% of Mohawk Industries at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in MHK. Machina Capital S.A.S. purchased a new stake in Mohawk Industries in the first quarter valued at approximately $745,000. Convergence Investment Partners LLC acquired a new stake in Mohawk Industries during the 1st quarter valued at $199,000. Venturi Wealth Management LLC lifted its stake in shares of Mohawk Industries by 4.7% in the first quarter. Venturi Wealth Management LLC now owns 2,899 shares of the company's stock worth $331,000 after acquiring an additional 131 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Mohawk Industries by 3.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company's stock valued at $457,000 after buying an additional 126 shares during the last quarter. Finally, South Dakota Investment Council boosted its stake in Mohawk Industries by 116.6% during the 1st quarter. South Dakota Investment Council now owns 44,769 shares of the company's stock valued at $5,112,000 after acquiring an additional 24,098 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.
Mohawk Industries Price Performance
Shares of MHK traded up $0.53 during mid-day trading on Monday, reaching $121.43. The company had a trading volume of 481,510 shares, compared to its average volume of 800,493. The company's 50-day moving average is $106.00 and its 200-day moving average is $111.34. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. The company has a market capitalization of $7.59 billion, a P/E ratio of 16.12, a P/E/G ratio of 4.47 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18.
Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.15. The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%. The business's revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $3.00 EPS. On average, equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.
Analyst Ratings Changes
MHK has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Evercore ISI cut their price objective on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a research report on Monday. Wells Fargo & Company lifted their price target on Mohawk Industries from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price target on the stock. Finally, Robert W. Baird lifted their target price on shares of Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research report on Monday. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $140.07.
Check Out Our Latest Stock Analysis on MHK
About Mohawk Industries
(
Free Report)
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.
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