Theleme Partners Llp adds Mohawk Industries (MHK) to its portfolio

Mohawk Industries (MHK) : Theleme Partners Llp added new position in Mohawk Industries during the most recent quarter end. The investment management firm now holds 538,000 shares of Mohawk Industries which is valued at $104.6 Million , the company said in a statement filed on May 13, 2016 with the SEC.Mohawk Industries makes up approximately 6.88% of Theleme Partners Llp’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates reduced its stake in MHK by selling 1,674 shares or 2.79% in the most recent quarter. The Hedge Fund company now holds 58,415 shares of MHK which is valued at $11.4 Million. Mohawk Industries makes up approx 0.02% of Parametric Portfolio Associates’s portfolio. Meeder Asset Management Inc added MHK to its portfolio by purchasing 1,358 company shares during the most recent quarter which is valued at $264,022. Mohawk Industries makes up approx 0.03% of Meeder Asset Management Inc’s portfolio.Norinchukin Bank The boosted its stake in MHK in the latest quarter, The investment management firm added 294 additional shares and now holds a total of 3,264 shares of Mohawk Industries which is valued at $634,587. Mohawk Industries makes up approx 0.02% of Norinchukin Bank The’s portfolio.Russell Frank Co boosted its stake in MHK in the latest quarter, The investment management firm added 20,930 additional shares and now holds a total of 87,462 shares of Mohawk Industries which is valued at $16.8 Million. Mohawk Industries makes up approx 0.03% of Russell Frank Co’s portfolio.Retirement Systems Of Alabama reduced its stake in MHK by selling 712 shares or 2.16% in the most recent quarter. The Hedge Fund company now holds 32,257 shares of MHK which is valued at $6.2 Million. Mohawk Industries makes up approx 0.04% of Retirement Systems Of Alabama’s portfolio.

Mohawk Industries closed down -0.43 points or -0.22% at $196.4 with 4,16,762 shares getting traded on Wednesday. Post opening the session at $197.12, the shares hit an intraday low of $196.215 and an intraday high of $198.11 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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. Topeka Capital Markets Initiated Mohawk Industries on May 24, 2016 to “Hold”, Price Target of the shares are set at $185.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 .

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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