Nicholas Investment Partners LP Has $5.78 Million Position in Mohawk Industries, Inc. (MHK)

Nicholas Investment Partners LP boosted its position in Mohawk Industries, Inc. (NYSE:MHK) by 32.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,930 shares of the company’s stock after purchasing an additional 5,870 shares during the quarter. Nicholas Investment Partners LP’s holdings in Mohawk Industries were worth $5,784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MHK. Canada Pension Plan Investment Board raised its stake in Mohawk Industries by 62.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,333 shares of the company’s stock valued at $2,142,000 after purchasing an additional 3,605 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Mohawk Industries by 7.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 176,151 shares of the company’s stock valued at $40,425,000 after purchasing an additional 12,139 shares during the last quarter. Toronto Dominion Bank raised its stake in Mohawk Industries by 57.9% in the 1st quarter. Toronto Dominion Bank now owns 17,167 shares of the company’s stock valued at $3,939,000 after purchasing an additional 6,298 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in Mohawk Industries by 7.7% in the 1st quarter. Virginia Retirement Systems ET AL now owns 90,700 shares of the company’s stock valued at $20,815,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Pioneer Investment Management Inc. raised its stake in Mohawk Industries by 9.6% in the 1st quarter. Pioneer Investment Management Inc. now owns 97,015 shares of the company’s stock valued at $22,264,000 after purchasing an additional 8,505 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Several research firms have commented on MHK. MKM Partners restated a “buy” rating and issued a $286.00 price target (up previously from $255.00) on shares of Mohawk Industries in a report on Wednesday, August 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $291.00 price target on shares of Mohawk Industries in a report on Monday, July 31st. Zacks Investment Research cut Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub cut Mohawk Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Finally, ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Mohawk Industries presently has an average rating of “Buy” and a consensus target price of $266.64.

Shares of Mohawk Industries, Inc. (NYSE:MHK) traded up 0.79% during mid-day trading on Monday, hitting $256.68. The stock had a trading volume of 138,997 shares. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $259.91. The firm’s market cap is $19.08 billion. The company has a 50-day moving average of $251.03 and a 200 day moving average of $239.71.

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 return on equity of 16.45% and a net margin of 10.54%. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the business earned $3.47 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that Mohawk Industries, Inc. will post $13.52 earnings per share for the current year.

In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the completion of the sale, the chairman now directly owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rodney David Patton sold 137 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the sale, the vice president now directly owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The disclosure for this sale can be found here. 17.00% of the stock is owned by company insiders.

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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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