Oregon Public Employees Retirement Fund cut its position in shares of Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 5.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,904 shares of the company’s stock after selling 2,028 shares during the quarter. Oregon Public Employees Retirement Fund owned 0.06% of Mohawk Industries worth $3,598,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MHK. Treasurer of the State of North Carolina grew its holdings in shares of Mohawk Industries by 0.7% during the 1st quarter. Treasurer of the State of North Carolina now owns 22,995 shares of the company’s stock worth $2,305,000 after purchasing an additional 170 shares in the last quarter. Savant Capital LLC acquired a new stake in Mohawk Industries during the first quarter worth $6,854,000. New York State Common Retirement Fund increased its holdings in Mohawk Industries by 10.6% in the 1st quarter. New York State Common Retirement Fund now owns 304,193 shares of the company’s stock valued at $30,486,000 after buying an additional 29,219 shares during the period. Pacer Advisors Inc. raised its stake in shares of Mohawk Industries by 1,441.3% in the 1st quarter. Pacer Advisors Inc. now owns 72,717 shares of the company’s stock valued at $7,288,000 after buying an additional 67,999 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Mohawk Industries by 2.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,731 shares of the company’s stock valued at $374,000 after buying an additional 103 shares in the last quarter. 75.55% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
MHK has been the topic of a number of analyst reports. Bank of America lowered their target price on shares of Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 19th. Jefferies Financial Group boosted their price target on Mohawk Industries from $115.00 to $118.00 and gave the company a “hold” rating in a research note on Thursday, July 13th. StockNews.com started coverage on Mohawk Industries in a research note on Thursday, May 18th. They set a “hold” rating for the company. Loop Capital lifted their price objective on Mohawk Industries from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays lowered their target price on shares of Mohawk Industries from $105.00 to $98.00 and set an “underweight” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $119.38.
Read Our Latest Stock Analysis on MHK
Insider Transactions at Mohawk Industries
In other Mohawk Industries news, VP Rodney David Patton sold 2,600 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $106.76, for a total value of $277,576.00. Following the transaction, the vice president now owns 14,487 shares of the company’s stock, valued at $1,546,632.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 17.20% of the stock is owned by corporate insiders.
Mohawk Industries Price Performance
MHK opened at $104.12 on Friday. The company’s 50 day simple moving average is $103.53 and its 200-day simple moving average is $103.74. Mohawk Industries, Inc. has a one year low of $87.01 and a one year high of $130.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.78 and a quick ratio of 0.98.
Mohawk Industries (NYSE:MHK – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.11. Mohawk Industries had a positive return on equity of 7.27% and a negative net margin of 2.82%. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the business posted $4.41 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.36 EPS for the current fiscal year.
Mohawk Industries Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and…
Read More: Oregon Public Employees Retirement Fund Sells 2,028 Shares of Mohawk Industries,