Cardinal Capital Management Purchases 1,055 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Cardinal Capital Management raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 9.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,810 shares of the company’s stock after acquiring an additional 1,055 shares during the period. Cardinal Capital Management’s holdings in Mohawk Industries were worth $1,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Mohawk Industries by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock valued at $819,067,000 after acquiring an additional 17,541 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Mohawk Industries by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after acquiring an additional 292,661 shares during the last quarter. Select Equity Group L.P. increased its position in Mohawk Industries by 8.5% during the second quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock valued at $193,380,000 after acquiring an additional 132,879 shares during the last quarter. Pacer Advisors Inc. increased its position in Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after acquiring an additional 360,628 shares during the last quarter. Finally, Brandes Investment Partners LP increased its position in Mohawk Industries by 10.5% during the second quarter. Brandes Investment Partners LP now owns 1,015,640 shares of the company’s stock valued at $115,057,000 after acquiring an additional 96,174 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 700 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 121,669 shares of the company’s stock, valued at $17,881,692.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Rodney David Patton sold 755 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the transaction, the vice president now directly owns 12,299 shares of the company’s stock, valued at $2,002,031.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Suzanne L. Helen sold 700 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 4,415 shares of company stock valued at $673,387 in the last three months. 17.10% of the stock is owned by insiders.

Mohawk Industries Stock Performance

MHK stock opened at $159.20 on Friday. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of -24.34, a PEG ratio of 1.23 and a beta of 1.37. The firm has a 50-day simple moving average of $153.85 and a two-hundred day simple moving average of $132.54. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $164.05. 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 quarterly 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 business had revenue of $2.80 billion during 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 company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.76 earnings per share. On average, equities analysts forecast that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Barclays upped their price target on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Loop Capital upped their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $163.25.

Mohawk Industries Company Profile

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.