Westpac Banking Corp continued to hold its stake in Mohawk Industries, Inc. (NYSE:MHK) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,414 shares of the company’s stock at the close of the 2nd quarter. Westpac Banking Corp’s holdings in Mohawk Industries were worth $1,067,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new stake in Mohawk Industries during the 1st quarter worth about $1,278,000. Bank of Nova Scotia lifted its position in Mohawk Industries by 23.2% during the 1st quarter. Bank of Nova Scotia now owns 21,824 shares of the company’s stock worth $5,009,000 after acquiring an additional 4,108 shares during the period. Creative Planning lifted its position in Mohawk Industries by 12.6% during the 2nd quarter. Creative Planning now owns 2,800 shares of the company’s stock worth $677,000 after acquiring an additional 313 shares during the period. Bluestein R H & Co. lifted its position in Mohawk Industries by 48.7% during the 1st quarter. Bluestein R H & Co. now owns 1,527 shares of the company’s stock worth $350,000 after acquiring an additional 500 shares during the period. Finally, Weiss Multi Strategy Advisers LLC lifted its position in Mohawk Industries by 98.0% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 55,079 shares of the company’s stock worth $12,640,000 after acquiring an additional 27,266 shares during the period. 76.97% of the stock is owned by institutional investors.
In other news, VP Rodney David Patton sold 137 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $246.78, for a total transaction of $33,808.86. Following the completion of the sale, the vice president now owns 6,924 shares in the company, valued at $1,708,704.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cock Frans Georges De sold 1,000 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $238.27, for a total transaction of $238,270.00. Following the sale, the director now owns 13,016 shares of the company’s stock, valued at approximately $3,101,322.32. The disclosure for this sale can be found here. Insiders have sold 21,224 shares of company stock valued at $5,388,248 in the last quarter. Insiders own 17.00% of the company’s stock.
A number of analysts have commented on MHK shares. ValuEngine raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $291.00 price target on shares of Mohawk Industries in a research report on Monday, July 31st. BidaskClub raised Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 price target for the company in a research report on Tuesday, July 4th. Finally, Credit Suisse Group started coverage on Mohawk Industries in a research report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $266.64.
Mohawk Industries, Inc. (MHK) opened at 257.92 on Friday. The firm’s market cap is $19.17 billion. The stock has a 50 day moving average price of $248.93 and a 200 day moving average price of $238.62. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $258.38.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.12. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the firm earned $3.47 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts expect that Mohawk Industries, Inc. will post $13.52 EPS for the current year.
Mohawk Industries Company 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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