Stellar Capital Management buys $2.4 Million stake in Mohawk Industries (MHK)

Mohawk Industries (MHK) : Stellar Capital Management scooped up 480 additional shares in Mohawk Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 12,575 shares of Mohawk Industries which is valued at $2.4 Million.Mohawk Industries makes up approximately 2.74% of Stellar Capital Management’s portfolio.

Other Hedge Funds, Including , Ubs Asset Management Americas Inc reduced its stake in MHK by selling 3,688 shares or 2.6% in the most recent quarter. The Hedge Fund company now holds 138,404 shares of MHK which is valued at $26.9 Million. Mohawk Industries makes up approx 0.03% of Ubs Asset Management Americas Inc’s portfolio.Coconut Grove Bank reduced its stake in MHK by selling 25 shares or 6.41% in the most recent quarter. The Hedge Fund company now holds 365 shares of MHK which is valued at $70,963. Mohawk Industries makes up approx 0.06% of Coconut Grove Bank’s portfolio.Pioneer Investment Management Inc reduced its stake in MHK by selling 49 shares or 0.09% in the most recent quarter. The Hedge Fund company now holds 54,909 shares of MHK which is valued at $10.7 Million. Mohawk Industries makes up approx 0.04% of Pioneer Investment Management Inc’s portfolio.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in MHK in the latest quarter, The investment management firm added 566 additional shares and now holds a total of 4,720 shares of Mohawk Industries which is valued at $917,662. Mohawk Industries makes up approx 0.02% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.

Mohawk Industries opened for trading at $192.54 and hit $194.93 on the upside on Friday, eventually ending the session at $193.08, with a gain of 1.00% or 1.91 points. The heightened volatility saw the trading volume jump to 3,95,449 shares. Company has a market cap of $14,306 M.

On the company’s financial health, Mohawk Industries reported $2.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 5, 2016. Analyst had a consensus of $2.32. The company had revenue of $2172.05 million for the quarter, compared to analysts expectations of $2098.37 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS.

Many Wall Street Analysts have commented on Mohawk Industries. MKM Partners Initiated Mohawk Industries on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $244.Company shares were Reiterated by RBC Capital Mkts on Mar 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 218 from a previous price target of $205 .Shares were Reiterated by Barclays on Feb 29, 2016 to “Overweight” and Lowered the Price Target to $ 200 from a previous price target of $201 .

Mohawk Industries Inc. is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company operates in three segments: the Carpet segment the Ceramic segment and the Laminate and Wood segment. The Carpet segment designs manufactures sources distributes and markets its carpet and rug product lines in a range of colors textures and patterns for residential and commercial applications. The Ceramic segment designs manufactures sources distributes and markets a line of ceramic tile porcelain tile and natural stone products. The Laminate and Wood segment designs manufactures sources licenses distributes and markets laminate and hardwood flooring. Its manufacturing and distribution processes provide carpet rugs ceramic tile laminate wood stone and vinyl flooring. Its brands include American Olean Bigelow Daltile Durkan Karastan Kerama Marazzi Lees Marazzi Mohawk Pergo Quick-Step and Unilin.

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