Maryland State Retirement & Pension System Sells 556 Shares of Mohawk Industries, Inc. $MHK

Maryland State Retirement & Pension System reduced its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 18.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,451 shares of the company’s stock after selling 556 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Mohawk Industries were worth $280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in Mohawk Industries by 326.3% during the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company’s stock valued at $28,000 after buying an additional 186 shares during the period. Allworth Financial LP raised its holdings in Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company’s stock valued at $65,000 after buying an additional 158 shares during the period. Mufg Securities Americas Inc. purchased a new stake in Mohawk Industries during the 4th quarter valued at $92,000. Kapitalo Investimentos Ltda bought a new stake in shares of Mohawk Industries during the fourth quarter worth $114,000. Finally, Versant Capital Management Inc lifted its position in shares of Mohawk Industries by 165.9% during the first quarter. Versant Capital Management Inc now owns 1,428 shares of the company’s stock worth $163,000 after purchasing an additional 891 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Suzanne L. Helen sold 2,500 shares of the business’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $120.60, for a total transaction of $301,500.00. Following the sale, the insider owned 91,084 shares in the company, valued at approximately $10,984,730.40. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the business’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $120.81, for a total value of $1,932,960.00. Following the sale, the chief executive officer owned 33,600 shares in the company, valued at $4,059,216. The trade was a 32.26% decrease in their position. The disclosure for this sale can be found here. 17.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on MHK shares. Wall Street Zen downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Barclays lifted their target price on Mohawk Industries from $111.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. Robert W. Baird lifted their target price on Mohawk Industries from $130.00 to $142.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Wells Fargo & Company lifted their target price on Mohawk Industries from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $140.14.

Mohawk Industries Price Performance

MHK opened at $127.15 on Tuesday. The business’s 50-day moving average is $112.40 and its two-hundred day moving average is $110.82. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18. The firm has a market capitalization of $7.90 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 2.79 and a beta of 1.28.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.15. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the firm earned $3.00 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

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.