New York State Teachers Retirement System lowered its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,740 shares of the company’s stock after selling 599 shares during the quarter. New York State Teachers Retirement System’s holdings in Mohawk Industries were worth $11,825,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Vanguard Group Inc raised its holdings in shares of Mohawk Industries by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 6,421,024 shares of the company’s stock valued at $1,125,927,000 after purchasing an additional 29,538 shares in the last quarter. BlackRock Inc. raised its stake in shares of Mohawk Industries by 5.6% during the 4th quarter. BlackRock Inc. now owns 4,221,721 shares of the company’s stock worth $493,771,000 after acquiring an additional 223,512 shares in the last quarter. FMR LLC raised its stake in shares of Mohawk Industries by 16.3% during the 4th quarter. FMR LLC now owns 2,867,479 shares of the company’s stock worth $335,381,000 after acquiring an additional 402,710 shares in the last quarter. Pzena Investment Management LLC bought a new position in shares of Mohawk Industries during the 1st quarter worth approximately $172,158,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Mohawk Industries by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,183,033 shares of the company’s stock worth $138,375,000 after acquiring an additional 30,054 shares in the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.
Several research analysts recently commented on MHK shares. SunTrust Banks boosted their price objective on shares of Mohawk Industries to $150.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. They noted that the move was a valuation call. Robert W. Baird set a $156.00 price objective on shares of Mohawk Industries and gave the stock a “buy” rating in a research note on Monday, April 22nd. Jefferies Financial Group upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $167.00 in a research note on Tuesday, April 30th. Stifel Nicolaus upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $135.00 to $180.00 in a research note on Wednesday, May 15th. Finally, Zacks Investment Research upgraded shares of Mohawk Industries from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $149.53.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, April 25th. The company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.06. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.50 billion. Mohawk Industries had a net margin of 7.73% and a return on equity of 11.36%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.01 earnings per share. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 10.77 EPS for the current fiscal year.
In other news, VP Rodney David Patton sold 2,260 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $133.50, for a total transaction of $301,710.00. Following the sale, the vice president now directly owns 9,134 shares of the company’s stock, valued at $1,219,389. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.00% of the stock is owned by insiders.
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Mohawk Industries Company Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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