Daiwa Securities Group Inc. Increases Position in Mohawk Industries, Inc. (NYSE:MHK)

Daiwa Securities Group Inc. increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 22.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,131 shares of the company’s stock after purchasing an additional 391 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Mohawk Industries were worth $242,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its position in shares of Mohawk Industries by 74.1% during the fourth quarter. Teacher Retirement System of Texas now owns 7,284 shares of the company’s stock valued at $754,000 after buying an additional 3,099 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Mohawk Industries in the fourth quarter valued at approximately $333,000. Robeco Institutional Asset Management B.V. grew its holdings in Mohawk Industries by 9.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,117 shares of the company’s stock worth $426,000 after purchasing an additional 364 shares during the last quarter. ING Groep NV increased its position in shares of Mohawk Industries by 9.0% during the fourth quarter. ING Groep NV now owns 7,236 shares of the company’s stock worth $749,000 after purchasing an additional 600 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Mohawk Industries in the 4th quarter worth $68,050,000. Institutional investors own 78.98% of the company’s stock.

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Mohawk Industries news, insider Suzanne L. Helen sold 2,300 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the transaction, the insider now directly owns 119,369 shares of the company’s stock, valued at $18,042,624.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 660 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. The disclosure for this sale can be found here. Insiders have sold 4,415 shares of company stock worth $673,387 in the last ninety days. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Down 0.6 %

Shares of NYSE:MHK opened at $154.95 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $164.05. The business has a 50 day moving average of $144.86 and a two-hundred day moving average of $127.01. The company has a market capitalization of $9.90 billion, a PE ratio of -23.69, a PEG ratio of 1.15 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.25. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.76 EPS. As a group, analysts forecast that Mohawk Industries, Inc. will post 10 EPS for the current year.

Analyst Upgrades and Downgrades

MHK has been the topic of several recent analyst reports. Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and upped their target price for the company from $120.00 to $177.00 in a research report on Friday, July 26th. Raymond James raised shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective for the company in a research report on Monday, June 10th. Loop Capital upped their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Barclays boosted their price objective on shares of Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.