Municipal Employees Retirement System of Michigan Acquires Shares of 1,630 Mohawk Industries, Inc. (MHK)

Municipal Employees Retirement System of Michigan acquired a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) during the fourth quarter, Holdings Channel reports. The firm acquired 1,630 shares of the company’s stock, valued at approximately $191,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Lindbrook Capital LLC acquired a new position in Mohawk Industries during the fourth quarter worth about $34,000. Parallel Advisors LLC grew its holdings in Mohawk Industries by 123.4% during the fourth quarter. Parallel Advisors LLC now owns 353 shares of the company’s stock worth $41,000 after acquiring an additional 195 shares during the period. CENTRAL TRUST Co grew its holdings in Mohawk Industries by 66.1% during the fourth quarter. CENTRAL TRUST Co now owns 407 shares of the company’s stock worth $48,000 after acquiring an additional 162 shares during the period. Patten Group Inc. grew its holdings in Mohawk Industries by 350.9% during the fourth quarter. Patten Group Inc. now owns 514 shares of the company’s stock worth $60,000 after acquiring an additional 400 shares during the period. Finally, JOYN Advisors Inc. grew its holdings in Mohawk Industries by 504.2% during the fourth quarter. JOYN Advisors Inc. now owns 574 shares of the company’s stock worth $67,000 after acquiring an additional 479 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

A number of research analysts recently issued reports on the company. Zacks Investment Research raised Mohawk Industries from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. Loop Capital lifted their target price on Mohawk Industries to $126.00 and gave the stock an “underperform” rating in a report on Friday, February 8th. SunTrust Banks lifted their target price on 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. Longbow Research lowered Mohawk Industries from a “buy” rating to a “neutral” rating and set a $125.98 target price on the stock. in a report on Friday, March 29th. Finally, Buckingham Research assumed coverage on Mohawk Industries in a report on Friday, February 1st. They set an “underperform” rating and a $116.00 target price on the stock. Seven research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Mohawk Industries currently has an average rating of “Hold” and a consensus target price of $160.59.

NYSE:MHK opened at $131.10 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.68 and a current ratio of 1.38. Mohawk Industries, Inc. has a fifty-two week low of $109.35 and a fifty-two week high of $247.13. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 2.04 and a beta of 1.51.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 7th. The company reported $2.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.04. Mohawk Industries had a return on equity of 12.40% and a net margin of 8.63%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the business posted $3.42 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that Mohawk Industries, Inc. will post 11.24 earnings per share for the current fiscal year.

In other news, VP Rodney David Patton sold 2,260 shares of Mohawk Industries stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $133.50, for a total transaction of $301,710.00. Following the completion of the sale, the vice president now directly owns 9,134 shares in the company, valued at approximately $1,219,389. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Suzanne L. Helen sold 14,247 shares of Mohawk Industries stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $140.43, for a total value of $2,000,706.21. The disclosure for this sale can be found here. 16.80% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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