Mohawk Industries, Inc. (NYSE:MHK) rallied to beat analysts’ estimates for the first quarter of 2015, sending the stock up by 7% over the following three weeks. The company’s adjusted earnings for the quarter were $1.70 per share, beating Zack’s projection by 5.6%. While raw materials accounted for a substantial percentage of the company’s expenditure, the company managed to maintain relatively low expenditures while growing revenues. That was good news for the company’s billionaire investors, of which there were 12 as of March 31, with those dozen wealthy investors holding an aggregate of $2.57 billion in Mohawk Industries’ stock. Those figures were also solidly up from the end of 2014 when 10 billionaires held $2.16 billion in shares. Mohawk Industries, Inc. (NYSE:MHK)’s performance in the second quarter of 2015 is expected to improve further, to somewhere between $2.51 and $2.60 in earnings per share. The flooring company’s recent acquisitions of Kai and IVC are expected to contribute to its earnings per share performance in 2015, with the contribution estimated to be somewhere between $0.06 and $0.08. Among other things, that led to Mohawk Industries being upgraded to a “Buy” rating recently by Zacks. After trimming his stake in Mohawk Industries during the fourth quarter of 2014 after being bullish on the company throughout the rest of 2014, billionaire Andreas Halvorsen was back to buying shares of the company, increasing his holding by 12% during the first quarter of 2015. Billionaire Dan Loeb also increased his stake in the firm during the quarter, while David Tepper opened a new position in it.
MGIC Investment Corp. (NYSE:MTG) is held by 12 billionaires with $1.01 billion invested in the stock between them, nearly identical to the previous reporting period when 12 billionaires held $987 million worth of the company’s shares. MGIC is seen favorably by several analysts, who have given strong projections for its second quarter 2015 performance. MGIC Investment Corp. (NYSE:MTG) performed very well in the first quarter of 2015, beating the Zack’s consensus estimate by 4% and many investors are optimistic the stock will continue to surprise, having done so in seven of the past eight quarters. MGIC Investment Corp. (NYSE:MTG) posted enormous improvement in revenue and diluted net income per share for the first quarter of 2015 compared to the same period last year. Its net income for the quarter was $133.1 million, which is more than double its net income of $60 million posted in the same quarter one year ago. Several billionaires hold the largest positions in MGIC among the investors we follow, including John Griffin, Lee Ainslie, Howard Marks, and Rob Citrone.
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