Alyeska Investment Group Lowers stake in Mohawk Industries (MHK)

Mohawk Industries (MHK) : Alyeska Investment Group reduced its stake in Mohawk Industries by 15.75% during the most recent quarter end. The investment management company now holds a total of 561,210 shares of Mohawk Industries which is valued at $110,698,673 after selling 104,931 shares in Mohawk Industries , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Mohawk Industries makes up approximately 1.11% of Alyeska Investment Group’s portfolio.

Other Hedge Funds, Including , Nomura Asset Management Co Ltd boosted its stake in MHK in the latest quarter, The investment management firm added 290 additional shares and now holds a total of 7,797 shares of Mohawk Industries which is valued at $1,577,957. Mohawk Industries makes up approx 0.03% of Nomura Asset Management Co Ltd’s portfolio.Dimensional Fund Advisors Lp boosted its stake in MHK in the latest quarter, The investment management firm added 80,840 additional shares and now holds a total of 837,963 shares of Mohawk Industries which is valued at $169,586,952. Mohawk Industries makes up approx 0.09% of Dimensional Fund Advisors Lp’s portfolio.Denver Investment Advisors reduced its stake in MHK by selling 2,648 shares or 17.6% in the most recent quarter. The Hedge Fund company now holds 12,396 shares of MHK which is valued at $2,508,702. Mohawk Industries makes up approx 0.11% of Denver Investment Advisors’s portfolio.Mitchell Capital Management Co reduced its stake in MHK by selling 365 shares or 1.25% in the most recent quarter. The Hedge Fund company now holds 28,817 shares of MHK which is valued at $5,699,138. Mohawk Industries makes up approx 2.16% of Mitchell Capital Management Co’s portfolio.

Mohawk Industries closed down -0.3 points or -0.15% at $199.97 with 8,75,198 shares getting traded on Monday. Post opening the session at $200.39, the shares hit an intraday low of $198.98 and an intraday high of $200.395 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Mohawk Industries reported $3.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $3.45. The company had revenue of $2294.14 million for the quarter, compared to analysts expectations of $2266.10 million. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.98 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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