South Dakota Investment Council Grows Position in Mohawk Industries, Inc. (NYSE:MHK)

South Dakota Investment Council grew its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2,091.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,530 shares of the company’s stock after purchasing an additional 92,126 shares during the quarter. South Dakota Investment Council owned approximately 0.15% of Mohawk Industries worth $9,991,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new stake in shares of Mohawk Industries during the fourth quarter valued at approximately $169,000. Illinois Municipal Retirement Fund bought a new position in Mohawk Industries in the fourth quarter worth $1,070,000. New York State Common Retirement Fund raised its holdings in Mohawk Industries by 9.8% in the fourth quarter. New York State Common Retirement Fund now owns 343,539 shares of the company’s stock worth $35,556,000 after purchasing an additional 30,697 shares in the last quarter. Duality Advisers LP raised its holdings in Mohawk Industries by 199.9% in the fourth quarter. Duality Advisers LP now owns 14,048 shares of the company’s stock worth $1,454,000 after purchasing an additional 9,364 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MHK. TheStreet upgraded Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Wells Fargo & Company reduced their price target on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a “hold” rating to a “buy” rating and raised their price target for the company from $98.00 to $152.00 in a report on Monday, February 12th. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Finally, Royal Bank of Canada increased their price objective on Mohawk Industries from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $118.75.

Insider Activity

In other news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the transaction, the vice president now directly owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Performance

NYSE:MHK traded down $2.49 on Wednesday, hitting $110.95. The stock had a trading volume of 246,623 shares, compared to its average volume of 700,264. Mohawk Industries, Inc. has a 52-week low of $76.02 and a 52-week high of $131.19. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of -16.02 and a beta of 1.34. The business’s 50-day simple moving average is $119.13 and its two-hundred day simple moving average is $102.52.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.10. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the firm earned $1.32 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts predict that Mohawk Industries, Inc. will post 9.56 earnings per share for the current year.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.