Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 2.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,140 shares of the company’s stock after selling 264 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Mohawk Industries were worth $1,327,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Magnetar Financial LLC grew its holdings in Mohawk Industries by 353.1% in the fourth quarter. Magnetar Financial LLC now owns 39,108 shares of the company’s stock valued at $4,659,000 after purchasing an additional 30,477 shares during the period. Cibc World Markets Corp grew its stake in shares of Mohawk Industries by 45.2% during the 4th quarter. Cibc World Markets Corp now owns 5,908 shares of the company’s stock valued at $704,000 after buying an additional 1,839 shares during the period. Commonwealth Equity Services LLC acquired a new stake in shares of Mohawk Industries during the 4th quarter worth $482,000. PFG Advisors purchased a new position in shares of Mohawk Industries in the 4th quarter worth $238,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Mohawk Industries by 16.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,814 shares of the company’s stock worth $335,000 after buying an additional 397 shares during the period. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

Shares of MHK opened at $116.05 on Wednesday. Mohawk Industries, Inc. has a 52-week low of $104.88 and a 52-week high of $164.29. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.44 and a beta of 1.44. The business’s 50 day moving average is $119.81 and its two-hundred day moving average is $132.88.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now owns 93,584 shares in the company, valued at $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 17.10% of the company’s stock.

Analyst Upgrades and Downgrades

MHK has been the subject of several research analyst reports. Evercore ISI dropped their price target on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Truist Financial dropped their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Bank of America reduced their price target on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company dropped their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Robert W. Baird reduced their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and a consensus price target of $146.92.

About Mohawk Industries

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.