Melvin Capital Management Lp buys $100,681,000 stake in Mohawk Industries (MHK)

Mohawk Industries (MHK) : Melvin Capital Management Lp scooped up 100,000 additional shares in Mohawk Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 475,000 shares of Mohawk Industries which is valued at $100,681,000.Mohawk Industries makes up approximately 4.28% of Melvin Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Cantab Capital Partners Llp boosted its stake in MHK in the latest quarter, The investment management firm added 1,283 additional shares and now holds a total of 1,749 shares of Mohawk Industries which is valued at $370,718. Mohawk Industries makes up approx 0.09% of Cantab Capital Partners Llp’s portfolio. Transamerica Financial Advisors added MHK to its portfolio by purchasing 4 company shares during the most recent quarter which is valued at $848.Ubs Oconnor reduced its stake in MHK by selling 135,253 shares or 70.66% in the most recent quarter. The Hedge Fund company now holds 56,166 shares of MHK which is valued at $11,904,945. Mohawk Industries makes up approx 0.36% of Ubs Oconnor’s portfolio. Caldwell Orkin Inc sold out all of its stake in MHK during the most recent quarter. The investment firm sold 18,400 shares of MHK which is valued $3,900,064.Pillar Pacific Capital Management boosted its stake in MHK in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 2,081 shares of Mohawk Industries which is valued at $434,055. Mohawk Industries makes up approx 0.07% of Pillar Pacific Capital Management’s portfolio.

Mohawk Industries closed down -0.03 points or -0.01% at $212.75 with 4,09,582 shares getting traded on Thursday. Post opening the session at $212.86, the shares hit an intraday low of $210.71 and an intraday high of $213.55 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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