Employees Retirement System of Texas trimmed its position in Mohawk Industries, Inc. (NYSE:MHK) by 80.0% during the 4th quarter, Holdings Channel reports. The firm owned 1,000 shares of the company’s stock after selling 4,000 shares during the period. Employees Retirement System of Texas’ holdings in Mohawk Industries were worth $117,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of MHK. Comerica Bank lifted its holdings in shares of Mohawk Industries by 0.8% in the 4th quarter. Comerica Bank now owns 12,351 shares of the company’s stock worth $1,569,000 after acquiring an additional 92 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Mohawk Industries by 4.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,114 shares of the company’s stock worth $247,000 after acquiring an additional 95 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Mohawk Industries by 0.6% in the 4th quarter. Moody National Bank Trust Division now owns 18,666 shares of the company’s stock worth $2,183,000 after acquiring an additional 106 shares during the last quarter. Patten & Patten Inc. TN lifted its holdings in shares of Mohawk Industries by 1.6% in the 4th quarter. Patten & Patten Inc. TN now owns 7,635 shares of the company’s stock worth $893,000 after acquiring an additional 120 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Mohawk Industries by 4.9% in the 4th quarter. Rafferty Asset Management LLC now owns 2,766 shares of the company’s stock worth $324,000 after acquiring an additional 128 shares during the last quarter. Institutional investors own 77.80% of the company’s stock.
In other Mohawk Industries news, Director Filip Balcaen bought 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 26th. The shares were purchased at an average cost of $109.76 per share, with a total value of $987,840.00. Following the purchase, the director now directly owns 776 shares in the company, valued at $85,173.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 14,247 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $140.43, for a total transaction of $2,000,706.21. The disclosure for this sale can be found here. 16.80% of the stock is owned by corporate insiders.
Several brokerages have recently commented on MHK. Zacks Investment Research upgraded shares of Mohawk Industries from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. SunTrust Banks upped their price objective on shares of Mohawk Industries to $150.00 and gave the stock a “buy” rating in a report on Monday, February 11th. They noted that the move was a valuation call. Buckingham Research began coverage on shares of Mohawk Industries in a report on Friday, February 1st. They issued an “underperform” rating and a $116.00 price objective on the stock. Loop Capital upped their price objective on shares of Mohawk Industries to $126.00 and gave the stock an “underperform” rating in a report on Friday, February 8th. Finally, Wells Fargo & Co upped their price objective on shares of Mohawk Industries from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Monday, February 11th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $168.94.
Shares of MHK opened at $129.26 on Friday. Mohawk Industries, Inc. has a fifty-two week low of $109.35 and a fifty-two week high of $250.25. The company has a market cap of $9.64 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 2.07 and a beta of 1.53. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 0.20.
Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 7th. The company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.04. Mohawk Industries had a net margin of 8.63% and a return on equity of 12.40%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm earned $3.42 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts forecast that Mohawk Industries, Inc. will post 11.24 earnings per share for the current fiscal year.
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Mohawk Industries Company Profile
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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