Harbour Capital Advisors Lowers stake in Mohawk Industries (MHK)

Mohawk Industries (MHK) : Harbour Capital Advisors reduced its stake in Mohawk Industries by 1.14% during the most recent quarter end. The investment management company now holds a total of 5,226 shares of Mohawk Industries which is valued at $1,018,547 after selling 60 shares in Mohawk Industries , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Mohawk Industries makes up approximately 0.56% of Harbour Capital Advisors’s portfolio.

Other Hedge Funds, Including , Highland Capital Management boosted its stake in MHK in the latest quarter, The investment management firm added 57 additional shares and now holds a total of 4,653 shares of Mohawk Industries which is valued at $906,870. Mohawk Industries makes up approx 0.08% of Highland Capital Management’s portfolio.British Columbia Investment Management Corp reduced its stake in MHK by selling 1,520 shares or 5.28% in the most recent quarter. The Hedge Fund company now holds 27,255 shares of MHK which is valued at $5,232,687. Mohawk Industries makes up approx 0.05% of British Columbia Investment Management Corp’s portfolio. Daiwa Sb Investments Ltd. added MHK to its portfolio by purchasing 310 company shares during the most recent quarter which is valued at $59,517. Mohawk Industries makes up approx 0.02% of Daiwa Sb Investments Ltd.’s portfolio.Legal General Group Plc reduced its stake in MHK by selling 1,053 shares or 0.38% in the most recent quarter. The Hedge Fund company now holds 277,066 shares of MHK which is valued at $53,193,901. Mohawk Industries makes up approx 0.05% of Legal General Group Plc’s portfolio.

Mohawk Industries closed down -5.91 points or -2.99% at $191.99 with 6,22,949 shares getting traded on Tuesday. Post opening the session at $197.06, the shares hit an intraday low of $191.89 and an intraday high of $197.71 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 Upgraded by BofA/Merrill to ” Buy” on Oct 12, 2016. 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.

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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