Ruane Cunniff Goldfarb Inc buys $486,363,270 stake in Mohawk Industries (MHK)

Mohawk Industries (MHK) : Ruane Cunniff Goldfarb Inc scooped up 14,014 additional shares in Mohawk Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 2,465,720 shares of Mohawk Industries which is valued at $486,363,270.Mohawk Industries makes up approximately 4.46% of Ruane Cunniff Goldfarb Inc’s portfolio.

Other Hedge Funds, Including , Leuthold Group added MHK to its portfolio by purchasing 16,285 company shares during the most recent quarter which is valued at $3,212,216. Mohawk Industries makes up approx 0.34% of Leuthold Group’s portfolio.Finemark National Bank Trust boosted its stake in MHK in the latest quarter, The investment management firm added 14,340 additional shares and now holds a total of 23,163 shares of Mohawk Industries which is valued at $4,687,728. Mohawk Industries makes up approx 0.48% of Finemark National Bank Trust’s portfolio.Bessemer Group Inc boosted its stake in MHK in the latest quarter, The investment management firm added 8,238 additional shares and now holds a total of 732,550 shares of Mohawk Industries which is valued at $148,253,469. Mohawk Industries makes up approx 0.76% of Bessemer Group Inc’s portfolio.Intrust Bank Na boosted its stake in MHK in the latest quarter, The investment management firm added 128 additional shares and now holds a total of 1,273 shares of Mohawk Industries which is valued at $247,891. Mohawk Industries makes up approx 0.10% of Intrust Bank Na’s portfolio.Boston Common Asset Management boosted its stake in MHK in the latest quarter, The investment management firm added 833 additional shares and now holds a total of 23,757 shares of Mohawk Industries which is valued at $4,531,648. Mohawk Industries makes up approx 0.64% of Boston Common Asset Management’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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