Mohawk Industries, Inc. (MHK) Shares Sold by Los Angeles Capital Management & Equity Research Inc.

Los Angeles Capital Management & Equity Research Inc. trimmed its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,756 shares of the company’s stock after selling 665 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Mohawk Industries were worth $5,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in Mohawk Industries by 30.5% in the 1st quarter. Victory Capital Management Inc. now owns 16,310 shares of the company’s stock valued at $3,788,000 after acquiring an additional 3,809 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Mohawk Industries by 25.3% in the 1st quarter. Toronto Dominion Bank now owns 34,096 shares of the company’s stock valued at $7,917,000 after acquiring an additional 6,878 shares during the last quarter. Shepherd Kaplan Krochuk LLC lifted its holdings in Mohawk Industries by 34.9% in the 1st quarter. Shepherd Kaplan Krochuk LLC now owns 2,705 shares of the company’s stock valued at $628,000 after acquiring an additional 700 shares during the last quarter. Capital Investment Services of America Inc. lifted its holdings in Mohawk Industries by 1.9% in the 2nd quarter. Capital Investment Services of America Inc. now owns 34,814 shares of the company’s stock valued at $7,460,000 after acquiring an additional 642 shares during the last quarter. Finally, Newbrook Capital Advisors LP lifted its holdings in Mohawk Industries by 9.0% in the 1st quarter. Newbrook Capital Advisors LP now owns 152,208 shares of the company’s stock valued at $35,346,000 after acquiring an additional 12,565 shares during the last quarter. 77.52% of the stock is owned by institutional investors.

MHK stock opened at $184.29 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.74 and a debt-to-equity ratio of 0.26. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.97 and a beta of 1.30. Mohawk Industries, Inc. has a one year low of $177.00 and a one year high of $286.85.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Wednesday, July 25th. The company reported $3.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.90 by ($0.39). The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Mohawk Industries had a return on equity of 14.35% and a net margin of 9.34%. Mohawk Industries’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $3.72 earnings per share. sell-side analysts predict that Mohawk Industries, Inc. will post 13.71 EPS for the current year.

A number of analysts have commented on MHK shares. Zacks Investment Research lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Robert W. Baird set a $272.00 price objective on shares of Mohawk Industries and gave the company a “buy” rating in a research note on Monday, April 30th. Raymond James lowered shares of Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a research note on Friday, July 27th. Barclays set a $278.00 price objective on shares of Mohawk Industries and gave the company a “buy” rating in a research note on Monday, April 30th. Finally, Stifel Nicolaus reduced their price objective on shares of Mohawk Industries from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, April 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $254.07.

In other news, insider Bernard Thiers sold 10,000 shares of the stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $212.60, for a total value of $2,126,000.00. Following the completion of the sale, the insider now directly owns 45,156 shares of the company’s stock, valued at $9,600,165.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Filip Balcaen purchased 25,912 shares of Mohawk Industries stock in a transaction dated Monday, May 14th. The stock was bought at an average cost of $209.89 per share, with a total value of $5,438,669.68. Following the completion of the transaction, the director now directly owns 776 shares of the company’s stock, valued at $162,874.64. The disclosure for this purchase can be found here. Insiders bought 100,912 shares of company stock valued at $19,175,920 over the last three months. 16.80% of the stock is owned by insiders.

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).

Further Reading: Investing in Dividend Stocks

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

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