Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Redmond Asset Management LLC

Redmond Asset Management LLC decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,067 shares of the company’s stock after selling 298 shares during the quarter. Redmond Asset Management LLC’s holdings in Mohawk Industries were worth $1,042,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC increased its stake in Mohawk Industries by 20.9% during the first quarter. FMR LLC now owns 3,467,202 shares of the company’s stock worth $437,387,000 after acquiring an additional 599,723 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in Mohawk Industries during the first quarter worth $172,158,000. Wells Fargo & Company MN increased its stake in Mohawk Industries by 2.9% during the first quarter. Wells Fargo & Company MN now owns 1,301,070 shares of the company’s stock worth $164,130,000 after acquiring an additional 36,090 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Mohawk Industries by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,183,033 shares of the company’s stock worth $138,375,000 after acquiring an additional 30,054 shares during the last quarter. Finally, Impala Asset Management LLC increased its stake in Mohawk Industries by 138.1% during the first quarter. Impala Asset Management LLC now owns 885,310 shares of the company’s stock worth $111,682,000 after acquiring an additional 513,503 shares during the last quarter. 83.38% of the stock is owned by institutional investors.

In related news, insider Bernard Thiers sold 2,800 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $149.85, for a total transaction of $419,580.00. Following the completion of the transaction, the insider now directly owns 43,559 shares of the company’s stock, valued at approximately $6,527,316.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce Bruckmann bought 2,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $117.69 per share, with a total value of $235,380.00. Following the completion of the purchase, the director now directly owns 286,691 shares in the company, valued at $33,740,663.79. The disclosure for this purchase can be found here. Insiders have sold a total of 31,000 shares of company stock valued at $4,481,028 over the last three months. 18.00% of the stock is currently owned by insiders.

A number of brokerages have recently weighed in on MHK. Stifel Nicolaus dropped their price objective on Mohawk Industries from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Buckingham Research raised Mohawk Industries from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $115.00 to $117.00 in a research note on Tuesday, July 30th. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating and set a $131.00 price objective for the company. in a research note on Thursday, August 1st. Nomura dropped their price objective on Mohawk Industries from $176.00 to $167.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating for the company in a research note on Monday, July 29th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Mohawk Industries currently has a consensus rating of “Hold” and an average target price of $142.59.

MHK traded down $1.33 on Thursday, hitting $111.13. 392,631 shares of the company were exchanged, compared to its average volume of 1,071,668. Mohawk Industries, Inc. has a twelve month low of $109.35 and a twelve month high of $196.30. The stock has a market capitalization of $8.22 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 2.23 and a beta of 1.38. The company has a current ratio of 1.30, a quick ratio of 0.66 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $138.60.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 25th. The company reported $2.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.87 by $0.02. Mohawk Industries had a return on equity of 10.50% and a net margin of 7.79%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the firm posted $3.51 EPS. Mohawk Industries’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts forecast that Mohawk Industries, Inc. will post 10.04 earnings per share for the current fiscal year.

About Mohawk Industries

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

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