Toronto Dominion Bank raised its stake in Mohawk Industries, Inc. (NYSE:MHK – Get Rating) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,375 shares of the company’s stock after buying an additional 3,637 shares during the period. Toronto Dominion Bank’s holdings in Mohawk Industries were worth $2,796,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in shares of Mohawk Industries during the 4th quarter worth approximately $27,000. Wipfli Financial Advisors LLC purchased a new position in shares of Mohawk Industries during the 3rd quarter worth approximately $33,000. Canada Pension Plan Investment Board increased its stake in shares of Mohawk Industries by 100.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 400 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Covestor Ltd increased its stake in shares of Mohawk Industries by 191.0% during the 1st quarter. Covestor Ltd now owns 390 shares of the company’s stock worth $49,000 after purchasing an additional 256 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its stake in shares of Mohawk Industries by 116.5% during the 4th quarter. Ronald Blue Trust Inc. now owns 630 shares of the company’s stock worth $57,000 after purchasing an additional 339 shares in the last quarter. 75.85% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
MHK has been the topic of a number of analyst reports. Barclays raised their target price on shares of Mohawk Industries from $83.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday, February 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Mohawk Industries from $104.00 to $121.00 and gave the stock a “hold” rating in a research report on Tuesday, January 10th. StockNews.com initiated coverage on shares of Mohawk Industries in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Loop Capital upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Tuesday, April 11th. Finally, Credit Suisse Group decreased their target price on shares of Mohawk Industries from $109.00 to $103.00 in a research report on Monday, March 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $123.08.
Mohawk Industries Stock Performance
Mohawk Industries (NYSE:MHK – Get Rating) last posted its earnings results on Thursday, April 27th. The company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.47. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.74 billion. Mohawk Industries had a negative net margin of 1.21% and a positive return on equity of 8.47%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.78 EPS. As a group, equities research analysts expect that Mohawk Industries, Inc. will post 9.4 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Suzanne L. Helen sold 2,700 shares of Mohawk Industries stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $116.40, for a total transaction of $314,280.00. Following the sale, the insider now owns 14,353 shares of the company’s stock, valued at approximately $1,670,689.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Suzanne L. Helen sold 5,200 shares of Mohawk Industries stock in a transaction on Monday, February 13th. The shares were sold at an average price of $119.59, for a total transaction of $621,868.00. Following the sale, the insider now owns 14,853 shares of the company’s stock, valued at approximately $1,776,270.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suzanne L. Helen sold 2,700 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $116.40, for a total transaction of $314,280.00. Following the completion of the sale, the insider now owns 14,353 shares in the company, valued at approximately $1,670,689.20. The disclosure for this sale can be found here. Insiders have sold 12,150 shares of company stock valued at $1,374,876 in the last quarter. Company insiders own 17.20% of the company’s stock.
Mohawk Industries Profile
Mohawk Industries, Inc engages in the manufacture, design, and distribution of residential and commercial flooring products. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment manufactures ceramic, porcelain, and natural stone tile products used for wall and floor applications.
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