Mohawk Industries, Inc. $MHK Shares Acquired by ARGA Investment Management LP

ARGA Investment Management LP grew its position in Mohawk Industries, Inc. (NYSE:MHK) by 1,508.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 488,741 shares of the company’s stock after purchasing an additional 458,349 shares during the period. Mohawk Industries makes up approximately 1.7% of ARGA Investment Management LP’s holdings, making the stock its 15th biggest position. ARGA Investment Management LP owned 0.79% of Mohawk Industries worth $63,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MHK. Atlas FRM LLC raised its position in shares of Mohawk Industries by 28.0% in the 2nd quarter. Atlas FRM LLC now owns 608,000 shares of the company’s stock worth $63,743,000 after acquiring an additional 133,000 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Mohawk Industries during the second quarter worth approximately $337,000. Brandes Investment Partners LP grew its stake in Mohawk Industries by 5.6% during the second quarter. Brandes Investment Partners LP now owns 870,778 shares of the company’s stock worth $91,294,000 after purchasing an additional 46,076 shares during the period. Legal & General Group Plc increased its holdings in Mohawk Industries by 12.6% in the second quarter. Legal & General Group Plc now owns 141,815 shares of the company’s stock worth $14,868,000 after purchasing an additional 15,834 shares in the last quarter. Finally, Patton Fund Management Inc. acquired a new position in Mohawk Industries in the second quarter valued at approximately $216,000. Institutional investors own 78.98% of the company’s stock.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $110.36, for a total value of $386,260.00. Following the sale, the insider directly owned 70,593 shares of the company’s stock, valued at $7,790,643.48. This trade represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 17,600 shares of company stock worth $1,945,754 over the last ninety days. Corporate insiders own 17.40% of the company’s stock.

Mohawk Industries Stock Performance

Shares of NYSE MHK opened at $120.75 on Friday. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 2.23 and a beta of 1.22. The company has a current ratio of 2.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $143.13. The stock’s 50-day moving average is $112.80 and its 200 day moving average is $119.41.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, October 23rd. The company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Mohawk Industries had a return on equity of 6.97% and a net margin of 3.93%.The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.90 earnings per share. On average, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MHK has been the subject of several recent analyst reports. Barclays set a $121.00 price objective on shares of Mohawk Industries in a research report on Monday, December 8th. Wolfe Research cut shares of Mohawk Industries from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Raymond James Financial reiterated a “strong-buy” rating and set a $150.00 price objective (up previously from $140.00) on shares of Mohawk Industries in a report on Tuesday, October 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Mohawk Industries in a research note on Friday, October 31st. Finally, Vertical Research assumed coverage on Mohawk Industries in a research report on Monday, October 20th. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.83.

Mohawk Industries Company Profile

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.