State of Alaska Department of Revenue Boosts Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

State of Alaska Department of Revenue grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,638 shares of the company’s stock after purchasing an additional 165 shares during the quarter. State of Alaska Department of Revenue’s holdings in Mohawk Industries were worth $2,583,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MHK. Resona Asset Management Co. Ltd. purchased a new position in shares of Mohawk Industries during the 4th quarter valued at approximately $41,000. Huntington National Bank increased its holdings in shares of Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after purchasing an additional 119 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Mohawk Industries by 233.0% during the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $85,000 after purchasing an additional 501 shares in the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of Mohawk Industries during the 4th quarter valued at approximately $92,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Mohawk Industries during the 4th quarter valued at approximately $114,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Trading Up 1.7%

Shares of MHK opened at $99.63 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The firm has a 50-day moving average price of $103.61 and a 200 day moving average price of $113.43. The firm has a market capitalization of $6.23 billion, a P/E ratio of 13.04, a P/E/G ratio of 3.84 and a beta of 1.19.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Mohawk Industries had a net margin of 4.54% and a return on equity of 7.68%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. Mohawk Industries’s quarterly revenue was down 5.7% on a year-over-year basis. Sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on MHK. Wells Fargo & Company cut their price target on shares of Mohawk Industries from $130.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They issued a “hold” rating and a $121.00 price target for the company. Barclays cut their price target on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. Wall Street Zen lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. cut their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Mohawk Industries currently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

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.