Weik Investment Services Inc Lowers stake in Mohawk Industries (MHK)

Mohawk Industries (MHK) : Weik Investment Services Inc reduced its stake in Mohawk Industries by 2.71% during the most recent quarter end. The investment management company now holds a total of 36,855 shares of Mohawk Industries which is valued at $7.2 Million after selling 1,025 shares in Mohawk Industries , the firm said in a disclosure report filed with the SEC on May 13, 2016.Mohawk Industries makes up approximately 4.36% of Weik Investment Services Inc’s portfolio.

Other Hedge Funds, Including , I.g. Investment Management Ltd. added MHK to its portfolio by purchasing 8,580 company shares during the most recent quarter which is valued at $1.7 Million. Mohawk Industries makes up approx 0.01% of I.g. Investment Management Ltd.’s portfolio.United Services Automobile Association boosted its stake in MHK in the latest quarter, The investment management firm added 847 additional shares and now holds a total of 19,811 shares of Mohawk Industries which is valued at $3.9 Million. Mohawk Industries makes up approx 0.01% of United Services Automobile Association’s portfolio.Bronfman E.l. Rothschild reduced its stake in MHK by selling 17 shares or 1.12% in the most recent quarter. The Hedge Fund company now holds 1,501 shares of MHK which is valued at $293,566. Mohawk Industries makes up approx 0.05% of Bronfman E.l. Rothschild’s portfolio.Schwab Charles Investment Management Inc boosted its stake in MHK in the latest quarter, The investment management firm added 8,435 additional shares and now holds a total of 174,571 shares of Mohawk Industries which is valued at $34.1 Million. Mohawk Industries makes up approx 0.04% of Schwab Charles Investment Management Inc’s portfolio.American Century Companies Inc boosted its stake in MHK in the latest quarter, The investment management firm added 89,052 additional shares and now holds a total of 681,633 shares of Mohawk Industries which is valued at $133.3 Million. Mohawk Industries makes up approx 0.16% of American Century Companies Inc’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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