Ami Investment Management Inc Lowers stake in Mohawk Industries (MHK)

Mohawk Industries (MHK) : Ami Investment Management Inc reduced its stake in Mohawk Industries by 0.17% during the most recent quarter end. The investment management company now holds a total of 11,880 shares of Mohawk Industries which is valued at $2,518,085 after selling 20 shares in Mohawk Industries , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Mohawk Industries makes up approximately 1.81% of Ami Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Quadrature Capital Ltd added MHK to its portfolio by purchasing 1,663 company shares during the most recent quarter which is valued at $352,489. Mohawk Industries makes up approx 0.02% of Quadrature Capital Ltd’s portfolio. Finemark National Bank Trust added MHK to its portfolio by purchasing 8,823 company shares during the most recent quarter which is valued at $1,868,976. Mohawk Industries makes up approx 0.20% of Finemark National Bank Trust’s portfolio.Advisors Asset Management reduced its stake in MHK by selling 753 shares or 1.2% in the most recent quarter. The Hedge Fund company now holds 61,968 shares of MHK which is valued at $13,126,681. Mohawk Industries makes up approx 0.21% of Advisors Asset Management’s portfolio.

Mohawk Industries opened for trading at $211.73 and hit $213.9697 on the upside on Tuesday, eventually ending the session at $213.08, with a gain of 1.31% or 2.75 points. The heightened volatility saw the trading volume jump to 3,97,054 shares. Company has a market cap of $15,801 M.

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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