Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,648 shares of the company’s stock after selling 304 shares during the quarter. Retirement Systems of Alabama’s holdings in Mohawk Industries were worth $1,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in shares of Mohawk Industries by 159.2% during the fourth quarter. Russell Investments Group Ltd. now owns 147,108 shares of the company’s stock worth $15,226,000 after purchasing an additional 90,359 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Mohawk Industries by 72.1% in the 4th quarter. Truist Financial Corp now owns 294,894 shares of the company’s stock valued at $30,522,000 after purchasing an additional 123,508 shares in the last quarter. South Dakota Investment Council grew its stake in shares of Mohawk Industries by 2,091.9% during the fourth quarter. South Dakota Investment Council now owns 96,530 shares of the company’s stock worth $9,991,000 after purchasing an additional 92,126 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Mohawk Industries during the 4th quarter worth about $169,000. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of Mohawk Industries in the 4th quarter valued at about $1,070,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $118.19 on Thursday. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19. The stock has a market cap of $7.55 billion, a PE ratio of -18.07, a P/E/G ratio of 1.17 and a beta of 1.35. The stock has a fifty day moving average price of $119.22 and a 200 day moving average price of $105.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.83.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the company earned $1.75 EPS. The firm’s revenue was down 4.5% on a year-over-year basis. Sell-side analysts forecast that Mohawk Industries, Inc. will post 9.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MHK shares. Loop Capital reduced their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 29th. The Goldman Sachs Group raised their price target on Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Royal Bank of Canada lifted their target price on Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $152.00 in a research note on Monday, February 12th. Finally, Barclays cut their price target on shares of Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $121.33.

Insider Activity at Mohawk Industries

In other news, VP Rodney David Patton sold 1,551 shares of the company’s 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 sale, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.10% of the stock is owned by corporate insiders.

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.