Strs Ohio Sells 20,000 Shares of Mohawk Industries, Inc. $MHK

Strs Ohio lowered its stake in Mohawk Industries, Inc. (NYSE:MHK) by 14.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,226 shares of the company’s stock after selling 20,000 shares during the quarter. Strs Ohio owned approximately 0.19% of Mohawk Industries worth $15,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC grew its stake in Mohawk Industries by 123.1% in the second quarter. AQR Capital Management LLC now owns 907,734 shares of the company’s stock valued at $94,640,000 after purchasing an additional 500,934 shares in the last quarter. Norges Bank acquired a new stake in shares of Mohawk Industries in the 2nd quarter valued at approximately $48,276,000. Massachusetts Financial Services Co. MA grew its stake in shares of Mohawk Industries by 28.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,820,314 shares of the company’s stock valued at $190,842,000 after buying an additional 398,349 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in Mohawk Industries during the third quarter worth $38,161,000. Finally, Donald Smith & CO. Inc. bought a new stake in Mohawk Industries during the second quarter worth $29,082,000. Institutional investors own 78.98% of the company’s stock.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,700 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $109.00, for a total value of $294,300.00. Following the completion of the sale, the insider owned 67,893 shares of the company’s stock, valued at approximately $7,400,337. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 17,600 shares of company stock worth $1,945,754 over the last three months. 17.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Vertical Research initiated coverage on shares of Mohawk Industries in a research report on Monday, October 20th. They issued a “buy” rating for the company. Wells Fargo & Company reduced their price target on Mohawk Industries from $125.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, December 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Mohawk Industries in a research report on Friday, October 31st. Barclays set a $121.00 price objective on Mohawk Industries in a research report on Monday, December 8th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $150.00 target price (up from $140.00) on shares of Mohawk Industries in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Mohawk Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.83.

Mohawk Industries Trading Down 3.6%

Shares of NYSE:MHK opened at $120.75 on Monday. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $143.13. The stock has a market cap of $7.46 billion, a PE ratio of 17.97, a P/E/G ratio of 2.15 and a beta of 1.22. The business has a 50 day moving average of $112.80 and a 200-day moving average of $119.53. The company has a quick ratio of 1.24, a current ratio of 2.25 and a debt-to-equity ratio of 0.21.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, October 23rd. The company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.73 billion. Mohawk Industries had a return on equity of 6.97% and a net margin of 3.93%.Mohawk Industries’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $2.90 EPS. As a group, equities research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

About Mohawk Industries

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.