November 29, 2016 - By Hazel Jackson · 0 Comments
Mohawk Industries Inc (NYSE:MHK) institutional sentiment decreased to 1.18 in Q2 2016. Its down -0.05, from 1.23 in 2016Q1. The ratio dived, as 222 active investment managers increased and opened new positions, while 181 trimmed and sold equity positions in Mohawk Industries Inc. The active investment managers in our partner’s database now hold: 56.04 million shares, down from 60.31 million shares in 2016Q1. Also, the number of active investment managers holding Mohawk Industries Inc in their top 10 positions increased from 13 to 14 for an increase of 1. Sold All: 31 Reduced: 150 Increased: 154 New Position: 68.
Mohawk Industries, Inc. is a flooring maker that creates products for residential and commercial spaces around the world. The company has a market cap of $14.81 billion. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring. It has a 16.73 P/E ratio. It operates in three divisions: Global Ceramic, which designs, makes, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, makes, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, makes, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.
The stock decreased 0.81% or $1.63 during the last trading session, hitting $199.37. Mohawk Industries, Inc. (NYSE:MHK) has risen 0.75% since April 26, 2016 and is uptrending. It has underperformed by 4.51% the S&P500.
Analysts await Mohawk Industries, Inc. (NYSE:MHK) to report earnings on February, 23. They expect $3.23 EPS, up 14.54% or $0.41 from last year’s $2.82 per share. MHK’s profit will be $239.94M for 15.43 P/E if the $3.23 EPS becomes a reality. After $3.50 actual EPS reported by Mohawk Industries, Inc. for the previous quarter, Wall Street now forecasts -7.71% negative EPS growth.
According to Zacks Investment Research, “Mohawk Industries, Inc. is one of the leading producers of woven and tufted broadloom carpet and rugs for principally residential applications. The company designs, manufactures and markets carpet and rugs in a broad range of colors, textures and patterns. The company is widely recognized through its premier brand names, some of which are Mohawk, Aladdin, American Rug Craftsmen, American Weavers, Bigelow, and Custom Weave.”
Rudman Errol M holds 6.35% of its portfolio in Mohawk Industries, Inc. for 35,000 shares. Palestra Capital Management Llc owns 342,630 shares or 5.22% of their US portfolio. Moreover, Ruane Cunniff & Goldfarb Inc has 4.43% invested in the company for 2.45 million shares. The Pennsylvania-based Weik Investment Services Inc has invested 4.15% in the stock. Raveneur Investment Group Lp, a New York-based fund reported 78,099 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 10 insider sales for $10.97 million net activity.
Ratings analysis reveals 75% of Mohawk’s analysts are positive. Out of 12 Wall Street analysts rating Mohawk, 9 give it “Buy”, 0 “Sell” rating, while 3 recommend “Hold”. The lowest target is $185 while the high is $244. The stock’s average target of $218.27 is 9.48% above today’s ($199.37) share price. MHK was included in 18 notes of analysts from August 10, 2015. The firm has “Buy” rating given on Monday, August 10 by Stifel Nicolaus. Wells Fargo initiated the shares of MHK in a report on Thursday, September 29 with “Market Perform” rating. The stock of Mohawk Industries, Inc. (NYSE:MHK) earned “Buy” rating by Goldman Sachs on Tuesday, October 6. The stock of Mohawk Industries, Inc. (NYSE:MHK) earned “Buy” rating by M Partners on Tuesday, April 12. The firm has “Outperform” rating by Barclays Capital given on Tuesday, October 13. Barclays Capital maintained Mohawk Industries, Inc. (NYSE:MHK) rating on Thursday, April 7. Barclays Capital has “Overweight” rating and $215 price target. The stock of Mohawk Industries, Inc. (NYSE:MHK) has “Outperform” rating given on Monday, November 9 by RBC Capital Markets. The stock of Mohawk Industries, Inc. (NYSE:MHK) earned “Neutral” rating by JP Morgan on Tuesday, March 15. The rating was initiated by Topeka Capital Markets on Tuesday, May 24 with “Hold”. Bank of America initiated Mohawk Industries, Inc. (NYSE:MHK) rating on Friday, September 23. Bank of America has “Neutral” rating and $235 price target.
Mohawk Industries, Inc. (Mohawk), incorporated on December 22, 1988, is a flooring maker that creates products for residential and commercial spaces around the world. The Firm operates in three divisions: Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. The Company’s trademarks include American Olean, Bigelow, Daltile, Durkan, IVC, Karastan, Lees, Marazzi, Mohawk, Pergo, Quick-Step and Unilin. Mohawk has activities in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States.
More recent Mohawk Industries, Inc. (NYSE:MHK) news were published by: Prnewswire.com which released: “Mohawk Industries, Inc. Invites You to Join the Third Quarter 2016 Conference …” on October 03, 2016. Also Prnewswire.com published the news titled: “Mohawk Industries Reports Record Third Quarter” on November 03, 2016. Prnewswire.com‘s news article titled: “Mohawk Industries Reports Record Second Quarter” with publication date: August 04, 2016 was also an interesting one.
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By Hazel Jackson