Best Midcap Stocks To Buy According To Billionaire Loeb

Mohawk Industries, Inc. (NYSE:MHK)

Third Point dumped 40% of its stake in Mohawk Industries, Inc. (NYSE:MHK) in the third quarter, ending the period with a total of 900,000 shares of the company which have a total value of $180.31 million. Investment firm RBC Capital Markets reaffirmed its ‘Outperform’ rating for the Georgia-based flooring manufacturer recently with a price target of $248. The stock has gained over 6% in value year-to-date. For the fourth quarter of 2016, Mohawk expects to earn $3.16-$3.25 a share, versus the consensus of $3.17. Robert Joseph Caruso’s Select Equity Group owns 2.28 million shares of Mohawk Industries, Inc. (NYSE:MHK), as of the end of the September quarter.

Molson Coors Brewing Co (NYSE:TAP)

Third Point bagged 700,000 more Molson Coors Brewing Co (NYSE:TAP) in the third quarter, upping its stake in the company by 70%. The fund now owns a $186.66 million stake in the Colorado-based Brewer. The company’s stock has gained over 4% in year since the start of the ear. Last month, Molson Coors Brewing’s CFO Mauricio Restrepo resigned because of “personal conduct” that was unrelated to the company’s operations, according to Molson’s statement. The company completed its $12 billion acquisition of SABMiller’s 58% stake in October. The joint venture is expected to boost the Molson’s revenue and improve its buying power. In the third quarter, Molson’s net sales plummeted by 6.9% to $947.6 million. At the end of the third quarter, 59 funds out of nearly 750 funds tracked by Insider Monkey were bullish on Molson Coors Brewing Co (NYSE:TAP).

TransDigm Group Incorporated (NYSE:TDG)

Third Point reported ownership of 1.13 million TransDigm Group Incorporated (NYSE:TDG) shares at the end of the third quarter, which have a net worth of $326.99 million. TransDigm Group’s stock is up over 9% year-to-date. Zacks recently recommended investors to sell the Ohio-based aerospace company’s stock, citing negative trend in earnings estimate revisions. The company gave earnings estimate of $11.84-$12.12 for the full year 2017, versus the consensus of $12.80, while revenue is expected by the company to come in at $3.515-3.565 billion in the same period, while the Street was projecting $3.59 billion. Stephen Mandel’s Lone Pine Capital owns 2.25 million shares of TransDigm Group Incorporated (NYSE:TDG), as of the end of the third quarter.

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