AEGON ASSET MANAGEMENT UK Plc Sells 67,121 Shares of Mohawk Industries, Inc. $MHK

Key Points

• AEGON Asset Management UK reduced its Mohawk Industries stake by 29.1%, selling 67,121 shares in the third quarter; it retained 163,259 shares valued at about $20.4 million.
• Analyst views remain mixed: four rate the stock Buy, ten Hold and one Sell, for an overall Hold consensus and an average price target of $138.92.
• Mohawk reported quarterly EPS of $2.72, beating estimates of $2.58, while revenue of $2.79 billion fell short of expectations; revenue was up 1% year over year.

AEGON ASSET MANAGEMENT UK Plc lowered its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 29.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,259 shares of the company's stock after selling 67,121 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned about 0.28% of Mohawk Industries worth $20,362,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MHK. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Mohawk Industries in the 2nd quarter valued at approximately $25,000. Elevation Wealth Partners LLC lifted its stake in Mohawk Industries by 122.2% during the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company's stock worth $27,000 after purchasing an additional 121 shares in the last quarter. Basecamp Wealth Advisors LLC lifted its stake in Mohawk Industries by 2,281.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company's stock worth $26,000 after purchasing an additional 251 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new position in Mohawk Industries during the third quarter worth $36,000. Finally, Pension & Wealth Management Advisors Inc. purchased a new position in shares of Mohawk Industries during the third quarter worth $36,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Analyst Upgrades and Downgrades

MHK has been the topic of several research reports. Evercore raised Mohawk Industries from an "in-line" rating to an "outperform" rating and set a $171.00 target price on the stock in a research note on Monday, November 2nd. Royal Bank Of Canada downgraded Mohawk Industries from a "sector perform" rating to an "underperform" rating and dropped their target price for the company from $130.00 to $112.00 in a research report on Wednesday, October 7th. Robert W. Baird boosted their price target on shares of Mohawk Industries from $132.00 to $142.00 and gave the stock a "neutral" rating in a research note on Monday, November 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $121.00 price target on shares of Mohawk Industries in a research report on Tuesday, August 4th. Finally, Bank of America reissued a "neutral" rating on shares of Mohawk Industries in a research note on Monday, November 2nd. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Mohawk Industries currently has an average rating of "Hold" and a consensus target price of $138.92.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 3,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $150.01, for a total value of $450,030.00. Following the transaction, the insider directly owned 2,332 shares in the company, valued at $349,823.32. This represents a 56.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey S. Lorberbaum sold 45,750 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $127.18, for a total transaction of $5,818,485.00. Following the sale, the chief executive officer directly owned 78,425 shares in the company, valued at approximately $9,974,091.50. The trade was a 36.84% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 127,946 shares of company stock worth $17,015,584. Insiders own 17.90% of the company's stock.

Mohawk Industries Trading Up 3.9%

MHK opened at $156.37 on Tuesday. Mohawk Industries, Inc. has a 12 month low of $92.99 and a 12 month high of $158.81. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.45 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.91 and a quick ratio of 1.09. The business has a fifty day moving average price of $127.86 and a 200 day moving average price of $117.44.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.58 by $0.14. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Mohawk Industries had a return on equity of 7.47% and a net margin of 4.63%. The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.67 earnings per share. Sell-side analysts expect that Mohawk Industries, Inc. will post 9.76 earnings per share for the current fiscal year.

About Mohawk Industries

Mohawk Industries, Inc is a global flooring manufacturer headquartered in Calhoun, Georgia. Its roots trace to a carpet-weaving business established in Amsterdam, New York, in 1878.

The company makes flooring for residential and commercial customers, including carpet, rugs, ceramic and porcelain tile, natural stone, hardwood, laminate and luxury vinyl products. Its portfolio includes brands such as Mohawk, Daltile, American Olean, Karastan and Pergo.

Mohawk serves markets across North America and internationally, with manufacturing and distribution operations in several regions.

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