Mohawk Industries, Inc. (NYSE:MHK) Stock Position Raised by Markel Corp

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Markel Corp lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 44.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 137,000 shares of the company’s stock after acquiring an additional 42,000 shares during the quarter. Markel Corp’s holdings in Mohawk Industries were worth $20,203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MHK. Dimensional Fund Advisors LP raised its holdings in Mohawk Industries by 2.6% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in Mohawk Industries by 12.6% in 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 in the last quarter. Quantitative Systematic Strategies LLC bought a new position in Mohawk Industries in the first quarter worth about $202,000. Meeder Asset Management Inc. bought a new position in Mohawk Industries in the first quarter worth about $718,000. Finally, Cypress Wealth Services LLC bought a new position in Mohawk Industries in the first quarter worth about $243,000. 83.38% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on MHK. Wells Fargo & Co downgraded shares of Mohawk Industries from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $135.00 to $115.00 in a report on Monday, July 29th. National Securities began coverage on shares of Mohawk Industries in a report on Thursday, July 11th. They issued a “buy” rating for the company. Robert W. Baird set a $156.00 target price on shares of Mohawk Industries and gave the stock a “buy” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. reduced their target price on shares of Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating for the company in a report on Monday, July 29th. Finally, Loop Capital boosted their target price on shares of Mohawk Industries to $145.00 and gave the stock a “hold” rating in a 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 assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $142.59.

In related news, Chairman Jeffrey S. Lorberbaum sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $142.76, for a total value of $2,569,680.00. Following the sale, the chairman now owns 47,603 shares in the company, valued at $6,795,804.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bernard Thiers sold 2,800 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 43,559 shares in the company, valued at approximately $6,527,316.15. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock worth $4,481,028 in the last 90 days. Insiders own 18.00% of the company’s stock.

Shares of MHK stock traded up $0.89 during trading hours on Friday, reaching $111.34. 667,200 shares of the company’s stock were exchanged, compared to its average volume of 1,097,238. Mohawk Industries, Inc. has a 1 year low of $108.93 and a 1 year high of $196.30. The stock has a market cap of $7.97 billion, a PE ratio of 9.03, a PEG ratio of 2.18 and a beta of 1.38. The company has a current ratio of 1.30, a quick ratio of 0.66 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average price is $137.35 and its two-hundred day moving average price is $136.39.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.87 by $0.02. Mohawk Industries had a return on equity of 10.50% and a net margin of 7.79%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the firm earned $3.51 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Mohawk Industries, Inc. will post 9.96 EPS for the current fiscal year.

About Mohawk Industries

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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