California State Teachers Retirement System Trims Stake in Mohawk Industries, Inc. (NYSE:MHK)

California State Teachers Retirement System lowered its position in Mohawk Industries, Inc. (NYSE:MHK) by 1.5% during the 1st quarter, HoldingsChannel reports. The fund owned 111,721 shares of the company’s stock after selling 1,683 shares during the period. California State Teachers Retirement System’s holdings in Mohawk Industries were worth $21,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. L & S Advisors Inc raised its stake in shares of Mohawk Industries by 12.5% in the first quarter. L & S Advisors Inc now owns 27,565 shares of the company’s stock valued at $5,301,000 after acquiring an additional 3,058 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Mohawk Industries by 71.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,014 shares of the company’s stock worth $3,272,000 after purchasing an additional 7,106 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Mohawk Industries by 6.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 70,324 shares of the company’s stock worth $9,912,000 after purchasing an additional 4,393 shares during the last quarter. Achmea Investment Management B.V. grew its holdings in shares of Mohawk Industries by 47.0% in the first quarter. Achmea Investment Management B.V. now owns 14,894 shares of the company’s stock worth $2,864,000 after purchasing an additional 4,763 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new position in shares of Mohawk Industries in the first quarter worth about $632,000. 74.55% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently commented on MHK. Royal Bank of Canada upped their price target on shares of Mohawk Industries from $134.00 to $154.00 and gave the stock an “underperform” rating in a report on Monday, May 3rd. Barclays upped their price target on shares of Mohawk Industries from $191.00 to $222.00 and gave the stock an “overweight” rating in a report on Tuesday, April 27th. Loop Capital upped their price target on shares of Mohawk Industries from $170.00 to $190.00 and gave the stock a “hold” rating in a report on Tuesday, April 20th. Raymond James increased their target price on shares of Mohawk Industries from $235.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Monday, May 3rd. Finally, Wells Fargo & Company began coverage on shares of Mohawk Industries in a report on Thursday, July 15th. They set an “equal weight” rating and a $213.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Mohawk Industries presently has a consensus rating of “Hold” and a consensus target price of $167.13.

MHK stock opened at $192.64 on Thursday. The stock has a market capitalization of $13.43 billion, a price-to-earnings ratio of 17.50 and a beta of 1.56. The firm’s 50-day moving average price is $198.10. Mohawk Industries, Inc. has a one year low of $78.55 and a one year high of $231.80. The company has a current ratio of 1.85, a quick ratio of 1.19 and a debt-to-equity ratio of 0.20.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, April 29th. The company reported $3.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $0.69. The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.60 billion. Mohawk Industries had a net margin of 6.46% and a return on equity of 9.14%. As a group, sell-side analysts expect that Mohawk Industries, Inc. will post 13.73 EPS for the current year.

In related news, insider Bernard Thiers sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $222.00, for a total value of $1,110,000.00. Following the completion of the transaction, the insider now directly owns 65,508 shares of the company’s stock, valued at approximately $14,542,776. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.90% of the company’s stock.

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 in the United States, Europe, Russia, and internationally. 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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