Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Mohawk Industries (NYSE:MHK) by 3.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,997 shares of the company’s stock after selling 414 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Mohawk Industries were worth $2,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Oakbrook Investments LLC raised its holdings in shares of Mohawk Industries by 4.2% during the 4th quarter. Oakbrook Investments LLC now owns 4,540 shares of the company’s stock worth $1,253,000 after acquiring an additional 185 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of Mohawk Industries by 2.9% during the 4th quarter. Catalyst Capital Advisors LLC now owns 7,200 shares of the company’s stock worth $1,986,000 after acquiring an additional 200 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Mohawk Industries by 3.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 6,100 shares of the company’s stock worth $1,683,000 after acquiring an additional 200 shares in the last quarter. Creative Planning raised its holdings in shares of Mohawk Industries by 7.0% during the 4th quarter. Creative Planning now owns 3,072 shares of the company’s stock worth $848,000 after acquiring an additional 201 shares in the last quarter. Finally, Pennsylvania Trust Co raised its holdings in shares of Mohawk Industries by 6.5% during the 4th quarter. Pennsylvania Trust Co now owns 3,365 shares of the company’s stock worth $928,000 after acquiring an additional 205 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on MHK. Credit Suisse Group reaffirmed an “outperform” rating and set a $310.00 price objective (up from $303.00) on shares of Mohawk Industries in a report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $312.00 target price on the stock in a research report on Friday, January 19th. ValuEngine downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Robert W. Baird set a $272.00 target price on Mohawk Industries and gave the company a “buy” rating in a research report on Monday, April 30th. Finally, Loop Capital began coverage on Mohawk Industries in a research report on Thursday, March 1st. They set a “hold” rating and a $261.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $280.67.
Shares of Mohawk Industries stock opened at $211.84 on Friday. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 1.54. Mohawk Industries has a 52 week low of $206.86 and a 52 week high of $208.84.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, April 26th. The company reported $3.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.00 by $0.01. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.40 billion. Mohawk Industries had a return on equity of 15.05% and a net margin of 10.12%. Mohawk Industries’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.72 EPS. equities analysts expect that Mohawk Industries will post 15.46 EPS for the current fiscal year.
In other Mohawk Industries news, CFO Frank H. Boykin sold 1,495 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $238.29, for a total value of $356,243.55. Following the transaction, the chief financial officer now owns 23,430 shares of the company’s stock, valued at approximately $5,583,134.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Filip Balcaen acquired 66,199 shares of the business’s stock in a transaction on Tuesday, May 1st. The stock was acquired at an average cost of $209.08 per share, for a total transaction of $13,840,886.92. Following the transaction, the director now directly owns 776 shares in the company, valued at $162,246.08. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 102,157 shares of company stock worth $21,387,408 and sold 25,888 shares worth $6,409,201. Corporate insiders own 16.80% of the company’s stock.
About Mohawk Industries
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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