Capital Investment Services Of America buys $6,060,464 stake in Mohawk Industries (MHK)

Mohawk Industries (MHK) : Capital Investment Services Of America scooped up 609 additional shares in Mohawk Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 30,644 shares of Mohawk Industries which is valued at $6,060,464.Mohawk Industries makes up approximately 1.16% of Capital Investment Services Of America’s portfolio.

Other Hedge Funds, Including , Simplex Trading boosted its stake in MHK in the latest quarter, The investment management firm added 603 additional shares and now holds a total of 5,112 shares of Mohawk Industries which is valued at $1,011,000. Mohawk Industries makes up approx 0.13% of Simplex Trading’s portfolio.New England Research Management reduced its stake in MHK by selling 3,970 shares or 54.99% in the most recent quarter. The Hedge Fund company now holds 3,250 shares of MHK which is valued at $649,448. Mohawk Industries makes up approx 0.55% of New England Research Management’s portfolio. Lenox Wealth Advisors sold out all of its stake in MHK during the most recent quarter. The investment firm sold 31 shares of MHK which is valued $6,195.Chevy Chase Trust Holdings reduced its stake in MHK by selling 1,834 shares or 3.37% in the most recent quarter. The Hedge Fund company now holds 52,597 shares of MHK which is valued at $10,510,459. Mohawk Industries makes up approx 0.06% of Chevy Chase Trust Holdings’s portfolio.

Mohawk Industries closed down -3.09 points or -1.54% at $197.77 with 4,26,052 shares getting traded on Friday. Post opening the session at $201.11, the shares hit an intraday low of $196.67 and an intraday high of $201.11 and the price fluctuated in this range throughout the day.Shares ended Friday 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. Mohawk Industries was Initiated by Wells Fargo to “Market Perform” on Sep 29, 2016. BofA/Merrill Initiated Mohawk Industries on Sep 23, 2016 to “Neutral”, Price Target of the shares are set at $235.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 .

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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