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

Kentucky Retirement Systems reduced its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,014 shares of the company’s stock after selling 215 shares during the period. Kentucky Retirement Systems’ holdings in Mohawk Industries were worth $525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Mohawk Industries during the 4th quarter worth approximately $68,050,000. Dimensional Fund Advisors LP lifted its position in shares of Mohawk Industries by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock worth $254,543,000 after purchasing an additional 317,278 shares during the last quarter. ARGA Investment Management LP increased its stake in shares of Mohawk Industries by 50.8% in the fourth quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock valued at $51,766,000 after purchasing an additional 168,401 shares during the period. Brandes Investment Partners LP increased its stake in shares of Mohawk Industries by 22.4% during the fourth quarter. Brandes Investment Partners LP now owns 816,138 shares of the company’s stock valued at $84,470,000 after acquiring an additional 149,370 shares during the period. Finally, Townsend & Associates Inc raised its position in Mohawk Industries by 104.7% during the fourth quarter. Townsend & Associates Inc now owns 256,266 shares of the company’s stock valued at $25,004,000 after buying an additional 131,076 shares during the period. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of Mohawk Industries stock in a transaction on Friday, June 14th. The shares were sold at an average price of $111.74, for a total value of $201,132.00. Following the transaction, the insider now directly owns 122,369 shares in the company, valued at $13,673,512.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 17.10% of the stock is currently owned by insiders.

Mohawk Industries Stock Up 1.2 %

Shares of Mohawk Industries stock traded up $1.98 during trading on Monday, reaching $162.69. The stock had a trading volume of 721,825 shares, compared to its average volume of 718,686. Mohawk Industries, Inc. has a 52 week low of $76.02 and a 52 week high of $163.43. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $118.04 and a two-hundred day moving average price of $116.11. The company has a market capitalization of $10.39 billion, a price-to-earnings ratio of -24.92, a P/E/G ratio of 1.88 and a beta of 1.38.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.75 by $0.25. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.76 earnings per share. Sell-side analysts predict that Mohawk Industries, Inc. will post 9.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MHK. JPMorgan Chase & Co. boosted their price objective on shares of Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Truist Financial lifted their target price on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a report on Monday. Loop Capital upped their price objective on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada boosted their target price on shares of Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, Raymond James upgraded shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price target for the company in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $153.42.

Mohawk Industries Company 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.