New York State Common Retirement Fund Sells 121,210 Shares of Mohawk Industries, Inc. (NYSE:MHK)

New York State Common Retirement Fund lowered its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 45.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,762 shares of the company’s stock after selling 121,210 shares during the period. New York State Common Retirement Fund’s holdings in Mohawk Industries were worth $17,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Mohawk Industries by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after purchasing an additional 74,123 shares in the last quarter. FMR LLC grew its position in Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after purchasing an additional 748,070 shares in the last quarter. State Street Corp grew its position in Mohawk Industries by 1.3% in the third quarter. State Street Corp now owns 1,846,446 shares of the company’s stock valued at $296,687,000 after purchasing an additional 23,016 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Mohawk Industries by 33.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock valued at $162,586,000 after purchasing an additional 254,779 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Mohawk Industries by 7.4% in the 4th quarter. Truist Financial Corp now owns 374,456 shares of the company’s stock valued at $44,609,000 after acquiring an additional 25,864 shares during the period. Institutional investors own 78.98% of the company’s stock.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of Mohawk Industries stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total value of $270,960.00. Following the completion of the sale, the insider now owns 2,453 shares in the company, valued at $332,332.44. The trade was a 44.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 19,078 shares of company stock worth $2,474,347 in the last quarter. 17.10% of the stock is currently owned by corporate insiders.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock opened at $115.89 on Friday. Mohawk Industries, Inc. has a twelve month low of $104.88 and a twelve month 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 company has a 50-day simple moving average of $121.69 and a two-hundred day simple moving average of $138.29. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate 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 year.

Analysts Set New Price Targets

MHK has been the subject of a number of analyst reports. Wolfe Research raised shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Wednesday, January 8th. Bank of America decreased their price objective on shares of Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Truist Financial decreased their price objective 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. Loop Capital decreased their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Company Profile

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.