New York State Teachers Retirement System Lowers Position in Mohawk Industries, Inc. (NYSE:MHK)

New York State Teachers Retirement System cut its stake in Mohawk Industries, Inc. (NYSE:MHK) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,995 shares of the company’s stock after selling 1,726 shares during the period. New York State Teachers Retirement System owned 0.08% of Mohawk Industries worth $5,071,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gyon Technologies Capital Management LP purchased a new position in shares of Mohawk Industries during the fourth quarter valued at approximately $30,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Mohawk Industries by 143.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 307 shares of the company’s stock valued at $31,000 after purchasing an additional 181 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in shares of Mohawk Industries during the second quarter valued at approximately $41,000. Huntington National Bank lifted its holdings in shares of Mohawk Industries by 36.0% during the third quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after purchasing an additional 143 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Mohawk Industries by 191.0% during the first quarter. Covestor Ltd now owns 390 shares of the company’s stock valued at $49,000 after purchasing an additional 256 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Mohawk Industries Stock Down 3.8 %

MHK opened at $113.17 on Friday. 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 fifty-two week low of $76.02 and a fifty-two week high of $131.19. The firm’s fifty day moving average is $119.18 and its 200 day moving average is $101.30. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of -16.35 and a beta of 1.34.

Mohawk Industries (NYSE:MHK) last released its earnings results 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. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. Mohawk Industries’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 EPS. On average, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on MHK. The Goldman Sachs Group raised their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Barclays raised their price target on shares of Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Truist Financial raised their price target on shares of Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Finally, Wells Fargo & Company cut their target price on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Mohawk Industries presently has a consensus rating of “Hold” and a consensus price target of $117.56.

Mohawk Industries 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.