Cibc World Markets Corp Has $1.51 Million Holding in Mohawk Industries, Inc. (MHK)

Cibc World Markets Corp Has $1.51 Million Holding in Mohawk Industries, Inc. (MHK)

Cibc World Markets Corp increased its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 51.0% during the first quarter, Holdings Channel reports. The firm owned 6,599 shares of the company’s stock after buying an additional 2,230 shares during the period. Cibc World Markets Corp’s holdings in Mohawk Industries were worth $1,514,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Xact Kapitalforvaltning AB acquired a new position in shares of Mohawk Industries during the third quarter worth approximately $1,781,000. Horizon Investment Services LLC increased its stake in Mohawk Industries by 3.5% in the third quarter. Horizon Investment Services LLC now owns 18,039 shares of the company’s stock valued at $3,614,000 after buying an additional 614 shares during the last quarter. Highbridge Capital Management LLC increased its stake in Mohawk Industries by 85.6% in the third quarter. Highbridge Capital Management LLC now owns 7,422 shares of the company’s stock valued at $1,487,000 after buying an additional 3,422 shares during the last quarter. Gotham Asset Management LLC bought a new stake in Mohawk Industries during the third quarter valued at $2,484,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Mohawk Industries during the third quarter valued at $13,794,000. Institutional investors own 77.90% of the company’s stock.

Mohawk Industries, Inc. (NYSE MHK) traded up 0.28% during mid-day trading on Friday, hitting $239.66. 204,432 shares of the company traded hands. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $241.02. The company’s 50-day moving average is $233.93 and its 200-day moving average is $218.86. The stock’s market capitalization is $17.81 billion.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, April 27th. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.01. Mohawk Industries had a net margin of 10.39% and a return on equity of 17.10%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business earned $2.38 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Analysts predict that Mohawk Industries, Inc. will post $13.32 EPS for the current year.

A number of analysts have recently weighed in on MHK shares. Nomura assumed coverage on shares of Mohawk Industries in a research note on Wednesday, April 12th. They issued a “buy” rating and a $280.00 price target for the company. Instinet reiterated a “buy” rating and issued a $280.00 target price on shares of Mohawk Industries in a report on Friday, April 14th. MKM Partners reiterated a “buy” rating and issued a $255.00 target price on shares of Mohawk Industries in a report on Tuesday, April 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $267.00 target price on shares of Mohawk Industries in a report on Monday, May 1st. Finally, Barclays PLC boosted their target price on shares of Mohawk Industries from $251.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, March 20th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Mohawk Industries has an average rating of “Buy” and an average price target of $256.50.

In other news, insider Bernard Thiers sold 4,000 shares of the business’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $231.78, for a total value of $927,120.00. Following the completion of the sale, the insider now owns 70,003 shares of the company’s stock, valued at $16,225,295.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Rodney David Patton sold 500 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $231.75, for a total transaction of $115,875.00. Following the completion of the sale, the vice president now directly owns 7,448 shares of the company’s stock, valued at approximately $1,726,074. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,481 shares of company stock valued at $5,416,293. Company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MHK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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