Theleme Partners Llp Exits Position in Mohawk Industries (MHK)

Mohawk Industries (MHK) : Theleme Partners Llp has sold out all of its stake in Mohawk Industries during the most recent quarter, according to the disclosure filed by the company on Aug 12, 2016 with the SEC. The investment management company has sold out 538,000 shares of Mohawk Industries which is valued at $114,034,480.

Other Hedge Funds, Including , Ranger Investment Management reduced its stake in MHK by selling 13,910 shares or 56.63% in the most recent quarter. The Hedge Fund company now holds 10,654 shares of MHK which is valued at $2,258,222. Mohawk Industries makes up approx 0.13% of Ranger Investment Management’s portfolio. Woodmont Investment Counsel sold out all of its stake in MHK during the most recent quarter. The investment firm sold 500 shares of MHK which is valued $105,980.Canada Pension Plan Investment Board reduced its stake in MHK by selling 100 shares or 2.78% in the most recent quarter. The Hedge Fund company now holds 3,500 shares of MHK which is valued at $741,860.Fortaleza Asset Management Inc reduced its stake in MHK by selling 2,500 shares or 23.33% in the most recent quarter. The Hedge Fund company now holds 8,215 shares of MHK which is valued at $1,758,174. Mohawk Industries makes up approx 1.36% of Fortaleza Asset Management Inc’s portfolio. Atalanta Sosnoff Capital added MHK to its portfolio by purchasing 27,084 company shares during the most recent quarter which is valued at $5,548,699. Mohawk Industries makes up approx 0.18% of Atalanta Sosnoff Capital’s portfolio.

Mohawk Industries opened for trading at $210.25 and hit $211.96 on the upside on Monday, eventually ending the session at $211.23, with a gain of 0.73% or 1.54 points. The heightened volatility saw the trading volume jump to 2,44,189 shares. Company has a market cap of $15,663 M.

On the company’s financial health, Mohawk Industries reported $3.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $3.37. The company had revenue of $2310.00 million for the quarter, compared to analysts expectations of $2350.69 million. The company’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.69 EPS.

Many Wall Street Analysts have commented on Mohawk Industries. Company shares were Reiterated by MKM Partners on Aug 8, 2016 to “Buy”, Firm has raised the Price Target to $ 246 from a previous price target of $244 .Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 245 from a previous price target of $220 .Topeka Capital Markets Initiated Mohawk Industries on May 24, 2016 to “Hold”, Price Target of the shares are set at $185.

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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