Arizona State Retirement System Buys 364 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Arizona State Retirement System increased its position in Mohawk Industries, Inc. (NYSE:MHK) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,132 shares of the company’s stock after acquiring an additional 364 shares during the quarter. Arizona State Retirement System’s holdings in Mohawk Industries were worth $1,566,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in Mohawk Industries by 4.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,953 shares of the company’s stock valued at $615,000 after purchasing an additional 224 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Mohawk Industries during the first quarter worth about $1,043,000. MetLife Investment Management LLC increased its stake in Mohawk Industries by 23.2% in the 1st quarter. MetLife Investment Management LLC now owns 14,929 shares of the company’s stock worth $1,854,000 after acquiring an additional 2,809 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Mohawk Industries by 98.7% in the 1st quarter. Panagora Asset Management Inc. now owns 10,628 shares of the company’s stock worth $1,320,000 after acquiring an additional 5,280 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Mohawk Industries by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,341 shares of the company’s stock valued at $912,000 after acquiring an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insider Transactions at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the transaction, the vice president now directly owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

MHK has been the topic of several research analyst reports. TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $98.00 to $152.00 in a report on Monday, February 12th. Barclays increased their target price on Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. The Goldman Sachs Group lifted their price target on Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, Truist Financial upped their price objective on Mohawk Industries from $98.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $117.56.

Mohawk Industries Stock Down 3.8 %

Shares of NYSE:MHK opened at $113.17 on Friday. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $131.19. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average price is $119.18 and its 200-day moving average price is $101.30. The stock has a market capitalization of $7.21 billion, a P/E ratio of -16.35 and a beta of 1.34.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.10. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. Mohawk Industries’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $1.32 EPS. On average, equities analysts anticipate that Mohawk Industries, Inc. will post 9.56 earnings per share for the current 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.