Phoenix Holdings Ltd. Makes New $19.71 Million Investment in Mohawk Industries, Inc. (NYSE:MHK)

Share on StockTwits

Phoenix Holdings Ltd. purchased a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 166,500 shares of the company’s stock, valued at approximately $19,707,000. Phoenix Holdings Ltd. owned about 0.23% of Mohawk Industries at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Stellar Capital Management LLC increased its position in shares of Mohawk Industries by 26.3% in the third quarter. Stellar Capital Management LLC now owns 16,900 shares of the company’s stock worth $2,097,000 after purchasing an additional 3,524 shares during the period. Valueworks LLC bought a new position in shares of Mohawk Industries in the third quarter worth $3,965,000. Virtu Financial LLC bought a new position in shares of Mohawk Industries in the third quarter worth $740,000. State Street Corp increased its position in shares of Mohawk Industries by 1.4% in the third quarter. State Street Corp now owns 2,851,554 shares of the company’s stock worth $353,792,000 after purchasing an additional 39,921 shares during the period. Finally, Psagot Investment House Ltd. increased its position in shares of Mohawk Industries by 15.0% in the third quarter. Psagot Investment House Ltd. now owns 32,633 shares of the company’s stock worth $4,049,000 after purchasing an additional 4,250 shares during the period. 79.18% of the stock is owned by institutional investors.

A number of research analysts recently commented on the company. Stifel Nicolaus raised their price target on Mohawk Industries from $145.00 to $165.00 in a research report on Monday, October 28th. Raymond James decreased their target price on Mohawk Industries from $145.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Deutsche Bank initiated coverage on Mohawk Industries in a research report on Wednesday, November 27th. They issued a “hold” rating on the stock. Wells Fargo & Co cut Mohawk Industries from a “market perform” rating to an “underperform” rating and set a $110.00 target price on the stock. in a research report on Monday, October 14th. Finally, ValuEngine cut Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $140.13.

In other news, insider Cock Paul F. De sold 800 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $126.44, for a total transaction of $101,152.00. Following the completion of the sale, the insider now owns 25,360 shares in the company, valued at $3,206,518.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Cock Paul F. De sold 1,489 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $145.14, for a total value of $216,113.46. Following the sale, the insider now owns 24,260 shares of the company’s stock, valued at approximately $3,521,096.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,205 shares of company stock worth $5,831,913. Insiders own 18.00% of the company’s stock.

Shares of Mohawk Industries stock traded up $0.97 during midday trading on Wednesday, reaching $134.83. The company had a trading volume of 610,412 shares, compared to its average volume of 814,295. The stock has a fifty day moving average price of $139.52 and a 200 day moving average price of $134.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.77. The firm has a market cap of $9.98 billion, a PE ratio of 10.94, a P/E/G ratio of 1.87 and a beta of 1.30. Mohawk Industries, Inc. has a fifty-two week low of $108.93 and a fifty-two week high of $156.60.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, October 24th. The company reported $2.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.11. Mohawk Industries had a return on equity of 9.82% and a net margin of 7.09%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the firm earned $3.29 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.96 EPS for the current year.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

Featured Article: How big is the FinTech market?

Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

Receive News & Ratings for Mohawk Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries and related companies with MarketBeat.com's FREE daily email newsletter.