Mohawk Industries, Inc. (NYSE:MHK) Stock Position Raised by New York State Common Retirement Fund

New York State Common Retirement Fund raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,539 shares of the company’s stock after purchasing an additional 30,697 shares during the period. New York State Common Retirement Fund’s holdings in Mohawk Industries were worth $35,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MHK. Fifth Third Bancorp raised its stake in shares of Mohawk Industries by 5.5% in the 4th quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock valued at $208,000 after acquiring an additional 105 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in Mohawk Industries by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 23,225 shares of the company’s stock valued at $1,993,000 after buying an additional 120 shares during the last quarter. Signaturefd LLC grew its holdings in Mohawk Industries by 29.4% in the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after buying an additional 128 shares during the last quarter. SG Americas Securities LLC grew its holdings in Mohawk Industries by 2.1% in the 4th quarter. SG Americas Securities LLC now owns 6,744 shares of the company’s stock valued at $698,000 after buying an additional 136 shares during the last quarter. Finally, Huntington National Bank grew its holdings in Mohawk Industries by 36.0% in the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after buying an additional 143 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft upgraded Mohawk Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $98.00 to $152.00 in a research report on Monday, February 12th. Finally, Royal Bank of Canada raised their target price on Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $118.75.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $110.27 on Friday. The business has a 50 day simple moving average of $118.99 and a 200 day simple moving average of $102.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $131.19.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.18. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the company posted $1.75 EPS. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. Research analysts anticipate that Mohawk Industries, Inc. will post 9.56 EPS for the current fiscal year.

About Mohawk Industries

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.