Russell Investments Group Ltd. Decreases Stake in Mohawk Industries, Inc. (MHK)

Russell Investments Group Ltd. reduced its stake in Mohawk Industries, Inc. (NYSE:MHK) by 27.6% during the second quarter, Holdings Channel reports. The fund owned 37,394 shares of the company’s stock after selling 14,225 shares during the period. Russell Investments Group Ltd.’s holdings in Mohawk Industries were worth $9,039,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Raymond James Trust N.A. acquired a new stake in shares of Mohawk Industries during the first quarter valued at $276,000. Gulf International Bank UK Ltd boosted its stake in shares of Mohawk Industries by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 19,091 shares of the company’s stock valued at $4,381,000 after buying an additional 325 shares during the last quarter. National Pension Service boosted its stake in shares of Mohawk Industries by 5.4% in the first quarter. National Pension Service now owns 59,074 shares of the company’s stock valued at $13,523,000 after buying an additional 3,037 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Mohawk Industries by 10.7% in the first quarter. Bank of Montreal Can now owns 168,294 shares of the company’s stock valued at $38,622,000 after buying an additional 16,293 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of Mohawk Industries by 1.0% in the first quarter. Capstone Asset Management Co. now owns 5,007 shares of the company’s stock valued at $1,149,000 after buying an additional 48 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries, Inc. (NYSE:MHK) traded up 0.99% on Wednesday, hitting $252.41. 171,194 shares of the company’s stock were exchanged. The company’s market cap is $18.76 billion. Mohawk Industries, Inc. has a 12-month low of $175.52 and a 12-month high of $252.89. The company’s 50-day moving average price is $246.11 and its 200-day moving average price is $234.90.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, July 27th. The company reported $3.72 earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the prior year, the company posted $3.47 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts forecast that Mohawk Industries, Inc. will post $13.52 earnings per share for the current year.

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MHK has been the subject of a number of analyst reports. MKM Partners reissued a “buy” rating and set a $255.00 target price on shares of Mohawk Industries in a research report on Tuesday, April 18th. Stifel Nicolaus increased their target price on shares of Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Royal Bank Of Canada reissued a “buy” rating and set a $267.00 target price on shares of Mohawk Industries in a research report on Monday, May 1st. BidaskClub raised shares of Mohawk Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Finally, Credit Suisse Group initiated coverage on shares of Mohawk Industries in a research report on Thursday, June 22nd. They set an “outperform” rating and a $274.00 target price for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Mohawk Industries currently has an average rating of “Buy” and an average target price of $266.64.

In other news, VP Rodney David Patton sold 137 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $246.78, for a total transaction of $33,808.86. Following the transaction, the vice president now directly owns 6,924 shares of the company’s stock, valued at approximately $1,708,704.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 6,200 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $240.62, for a total transaction of $1,491,844.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,724 shares of company stock worth $1,857,577. Corporate insiders own 17.10% of the company’s stock.

About Mohawk Industries

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

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