Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by Cardinal Capital Management

Cardinal Capital Management increased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 10,755 shares of the company’s stock after acquiring an additional 311 shares during the period. Cardinal Capital Management’s holdings in Mohawk Industries were worth $1,222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp grew its position in Mohawk Industries by 0.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company’s stock valued at $1,430,000 after acquiring an additional 98 shares in the last quarter. Quent Capital LLC grew its position in Mohawk Industries by 27.2% in the 1st quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after acquiring an additional 106 shares in the last quarter. Signaturefd LLC grew its position in Mohawk Industries by 29.4% in the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after acquiring an additional 128 shares in the last quarter. Quarry LP grew its position in Mohawk Industries by 70.4% in the 4th quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after acquiring an additional 174 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Mohawk Industries by 9.1% in the 1st quarter. Fifth Third Bancorp now owns 2,189 shares of the company’s stock valued at $287,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

MHK stock traded up $0.92 during trading on Friday, reaching $146.45. 580,920 shares of the company were exchanged, compared to its average volume of 730,832. The company has a market cap of $9.35 billion, a P/E ratio of -22.39, a PEG ratio of 1.23 and a beta of 1.38. Mohawk Industries, Inc. has a 52-week low of $76.02 and a 52-week high of $164.05. The stock’s 50 day moving average price is $124.98 and its 200 day moving average price is $119.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.76 earnings per share. As a group, analysts predict that Mohawk Industries, Inc. will post 9.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

MHK has been the topic of a number of analyst reports. Raymond James upgraded shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective on the stock in a report on Monday, June 10th. Loop Capital raised their price objective on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Robert W. Baird raised their price objective on shares of Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Wells Fargo & Company raised their price objective on shares of Mohawk Industries from $110.00 to $140.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada lifted their target price on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of Mohawk Industries stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the completion of the transaction, the insider now owns 122,369 shares in the company, valued at $13,673,512.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares in the company, valued at $2,002,031.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $111.74, for a total transaction of $201,132.00. Following the completion of the transaction, the insider now directly owns 122,369 shares of the company’s stock, valued at approximately $13,673,512.06. The disclosure for this sale can be found here. 17.10% of the stock is currently owned by company insiders.

Mohawk Industries 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.