Lafayette Investments Inc. Decreases Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Lafayette Investments Inc. trimmed its stake in Mohawk Industries, Inc. (NYSE:MHK) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,173 shares of the company’s stock after selling 250 shares during the quarter. Lafayette Investments Inc.’s holdings in Mohawk Industries were worth $4,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MHK. Massachusetts Financial Services Co. MA purchased a new position in shares of Mohawk Industries during the 2nd quarter valued at $85,997,000. Pacer Advisors Inc. increased its stake in shares of Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after purchasing an additional 360,628 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after purchasing an additional 292,661 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Mohawk Industries by 1,464.0% during the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after buying an additional 212,820 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new position in Mohawk Industries in the 2nd quarter worth approximately $21,061,000. 78.98% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the sale, the insider now owns 121,669 shares of the company’s stock, valued at approximately $17,881,692.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the transaction, the insider now directly owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Suzanne L. Helen sold 2,300 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the sale, the insider now directly owns 119,369 shares of the company’s stock, valued at $18,042,624.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,415 shares of company stock valued at $673,387. 17.10% of the stock is currently owned by insiders.

Mohawk Industries Price Performance

MHK traded up $0.38 during midday trading on Thursday, hitting $152.08. The stock had a trading volume of 39,076 shares, compared to its average volume of 692,801. The company has a market cap of $9.71 billion, a P/E ratio of -23.20, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $164.29. The business has a fifty day moving average of $154.76 and a 200 day moving average of $133.48. 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 earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.75 by $0.25. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.76 EPS. As a group, equities analysts forecast that Mohawk Industries, Inc. will post 10 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Royal Bank of Canada increased their target price on Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their target price on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays upped their price target on Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $120.00 to $177.00 in a research note on Friday, July 26th. Finally, Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries presently has an average rating of “Moderate Buy” and an average price target of $166.25.

About Mohawk Industries

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.