Pzena Investment Management LLC Purchases 614,307 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Pzena Investment Management LLC grew its position in Mohawk Industries, Inc. (NYSE:MHK) by 45.0% in the second quarter, Holdings Channel.com reports. The fund owned 1,979,015 shares of the company’s stock after buying an additional 614,307 shares during the period. Mohawk Industries makes up 1.5% of Pzena Investment Management LLC’s investment portfolio, making the stock its 26th largest holding. Pzena Investment Management LLC’s holdings in Mohawk Industries were worth $291,845,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MHK. FMR LLC lifted its stake in shares of Mohawk Industries by 20.9% in the first quarter. FMR LLC now owns 3,467,202 shares of the company’s stock worth $437,387,000 after buying an additional 599,723 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of 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 purchasing an additional 36,090 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 30,054 shares during the period. Impala Asset Management LLC raised its holdings in shares of 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 purchasing an additional 513,503 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Mohawk Industries by 12.6% during the fourth quarter. Geode Capital Management LLC now owns 844,953 shares of the company’s stock worth $98,658,000 after purchasing an additional 94,335 shares during the period. Institutional investors own 83.38% of the company’s stock.

A number of brokerages have weighed in on MHK. JPMorgan Chase & Co. dropped their target price on shares of Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating on the stock in a report on Monday, July 29th. Zacks Investment Research cut shares of Mohawk Industries from a “hold” rating to a “sell” rating and set a $131.00 target price on the stock. in a report on Thursday, August 1st. Nomura dropped their target price on shares of Mohawk Industries from $176.00 to $167.00 and set a “buy” rating on the stock in a report on Friday, July 26th. National Securities started coverage on shares of Mohawk Industries in a research report on Thursday, July 11th. They set a “buy” rating for the company. Finally, Loop Capital upped their price target on shares of Mohawk Industries to $145.00 and gave the stock a “hold” rating in a research report on Friday, June 14th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $142.59.

Shares of Mohawk Industries stock traded up $1.39 during trading on Friday, hitting $111.84. 19,088 shares of the stock were exchanged, compared to its average volume of 1,084,164. The stock’s fifty day moving average is $137.99 and its 200 day moving average is $136.51. The stock has a market cap of $8.28 billion, a PE ratio of 9.07, a P/E/G ratio of 2.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.66 and a current ratio of 1.30. Mohawk Industries, Inc. has a 12 month low of $109.35 and a 12 month high of $196.30.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 25th. The company reported $2.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.87 by $0.02. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.65 billion. Mohawk Industries had a net margin of 7.79% and a return on equity of 10.50%. Mohawk Industries’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.51 EPS. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.97 EPS for the current fiscal year.

In related news, insider Bernard Thiers sold 2,800 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $149.85, for a total value of $419,580.00. Following the completion of the transaction, the insider now owns 43,559 shares in the company, valued at approximately $6,527,316.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce Bruckmann bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $117.69 per share, with a total value of $235,380.00. Following the transaction, 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 sold a total of 31,000 shares of company stock valued at $4,481,028 in the last quarter. 18.00% of the stock is currently 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).

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

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