Fenimore Asset Management Inc. increased its stake in Mohawk Industries, Inc. (NYSE:MHK) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 338,779 shares of the company’s stock after buying an additional 43,198 shares during the period. Mohawk Industries comprises about 1.6% of Fenimore Asset Management Inc.’s investment portfolio, making the stock its 26th largest position. Fenimore Asset Management Inc. owned approximately 0.46% of Mohawk Industries worth $39,624,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of MHK. First Pacific Advisors LP bought a new stake in shares of Mohawk Industries in the third quarter worth $277,086,000. Equity Investment Corp bought a new stake in shares of Mohawk Industries in the third quarter worth $62,627,000. Select Equity Group L.P. increased its stake in shares of Mohawk Industries by 20.6% in the second quarter. Select Equity Group L.P. now owns 1,959,024 shares of the company’s stock worth $419,760,000 after buying an additional 334,869 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of Mohawk Industries by 853,280.0% in the third quarter. Thompson Siegel & Walmsley LLC now owns 256,014 shares of the company’s stock worth $44,892,000 after buying an additional 255,984 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its stake in shares of Mohawk Industries by 587.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 274,041 shares of the company’s stock worth $48,053,000 after buying an additional 234,185 shares during the last quarter. Institutional investors and hedge funds own 78.25% of the company’s stock.
A number of analysts recently issued reports on the stock. Goldman Sachs Group began coverage on shares of Mohawk Industries in a research note on Tuesday, October 2nd. They issued a “neutral” rating and a $210.00 price target for the company. JPMorgan Chase & Co. lowered shares of Mohawk Industries from a “neutral” rating to an “underweight” rating in a research note on Tuesday, October 9th. Raymond James lowered their target price on shares of Mohawk Industries from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Bank of America set a $210.00 target price on shares of Mohawk Industries and gave the company a “buy” rating in a research note on Thursday, October 11th. Finally, Royal Bank of Canada lowered shares of Mohawk Industries from an “outperform” rating to a “sector perform” rating and set a $190.00 target price for the company. in a research note on Monday, October 15th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Mohawk Industries has a consensus rating of “Hold” and an average price target of $170.75.
Shares of Mohawk Industries stock traded down $1.68 during trading on Friday, hitting $124.91. 23,553 shares of the stock were exchanged, compared to its average volume of 877,853. The firm has a market capitalization of $9.45 billion, a P/E ratio of 9.17, a P/E/G ratio of 1.63 and a beta of 1.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.79 and a current ratio of 1.54. Mohawk Industries, Inc. has a 12 month low of $109.35 and a 12 month high of $281.48.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, October 25th. The company reported $3.29 EPS for the quarter, missing the consensus estimate of $3.58 by ($0.29). The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. Mohawk Industries had a return on equity of 13.49% and a net margin of 8.81%. As a group, sell-side analysts forecast that Mohawk Industries, Inc. will post 12.31 earnings per share for the current year.
Mohawk Industries declared that its board has approved a stock repurchase program on Thursday, October 25th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other news, Director Filip Balcaen purchased 9,000 shares of the stock in a transaction dated Wednesday, December 26th. The stock was acquired at an average price of $109.76 per share, for a total transaction of $987,840.00. Following the completion of the transaction, the director now owns 776 shares of the company’s stock, valued at $85,173.76. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian Carson purchased 2,698 shares of the stock in a transaction dated Monday, October 29th. The shares were purchased at an average price of $116.34 per share, with a total value of $313,885.32. Following the transaction, the insider now directly owns 21,135 shares of the company’s stock, valued at approximately $2,458,845.90. The disclosure for this purchase can be found here. Insiders have bought 468,744 shares of company stock valued at $56,068,149 in the last 90 days. Insiders own 16.80% of the company’s stock.
Mohawk Industries 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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