Mohawk Industries, Inc. (MHK) Shares Obtained by Franklin Resources Inc.

Mohawk Industries, Inc. (MHK) Shares Obtained by Franklin Resources Inc.

Franklin Resources Inc. raised its position in Mohawk Industries, Inc. (NYSE:MHK) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,405 shares of the company’s stock after buying an additional 65 shares during the period. Franklin Resources Inc.’s holdings in Mohawk Industries were worth $281,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. MSI Financial Services Inc raised its stake in shares of Mohawk Industries by 13.1% in the third quarter. MSI Financial Services Inc now owns 597 shares of the company’s stock worth $120,000 after buying an additional 69 shares during the last quarter. Cornerstone Advisors Inc. raised its stake in shares of Mohawk Industries by 5,954.5% in the third quarter. Cornerstone Advisors Inc. now owns 666 shares of the company’s stock worth $133,000 after buying an additional 655 shares during the last quarter. SRB Corp raised its stake in shares of Mohawk Industries by 5.5% in the third quarter. SRB Corp now owns 743 shares of the company’s stock worth $149,000 after buying an additional 39 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Mohawk Industries by 79.1% in the third quarter. Global X Management Co. LLC now owns 926 shares of the company’s stock worth $186,000 after buying an additional 409 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Mohawk Industries during the third quarter worth $200,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Mohawk Industries, Inc. (NYSE:MHK) opened at 227.02 on Friday. Mohawk Industries, Inc. has a 52 week low of $175.52 and a 52 week high of $233.70. The stock’s market capitalization is $16.84 billion. The company has a 50 day moving average of $225.66 and a 200 day moving average of $206.91.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, February 9th. The company reported $3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.04. Mohawk Industries had a net margin of 10.39% and a return on equity of 17.10%. The business earned $2.20 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the firm posted $2.82 EPS. The company’s revenue was up 9.2% on a year-over-year basis. Equities analysts expect that Mohawk Industries, Inc. will post $13.29 EPS for the current fiscal year.

MHK has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $229.00 price objective for the company in a report on Monday, January 9th. Stifel Nicolaus boosted their price objective on shares of Mohawk Industries from $230.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, February 13th. Barclays PLC set a $251.00 price objective on shares of Mohawk Industries and gave the stock a “buy” rating in a report on Tuesday, February 14th. Macquarie initiated coverage on shares of Mohawk Industries in a report on Friday, December 16th. They issued an “outperform” rating and a $235.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $248.00 price objective (up from $245.00) on shares of Mohawk Industries in a report on Monday, December 5th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Mohawk Industries currently has an average rating of “Buy” and an average target price of $239.67.

In other Mohawk Industries news, insider Bernard Thiers sold 4,000 shares of the stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $231.78, for a total transaction of $927,120.00. Following the completion of the sale, the insider now directly owns 70,003 shares of the company’s stock, valued at approximately $16,225,295.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Rodney David Patton sold 500 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $231.75, for a total transaction of $115,875.00. Following the sale, the vice president now directly owns 7,448 shares of the company’s stock, valued at $1,726,074. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,440 shares of company stock valued at $13,049,918. Insiders own 17.10% of the company’s stock.

Mohawk Industries Company Profile

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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