New York Life Investment Management LLC Reduces Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

New York Life Investment Management LLC decreased its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,441 shares of the company’s stock after selling 473 shares during the quarter. New York Life Investment Management LLC’s holdings in Mohawk Industries were worth $1,482,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Choreo LLC purchased a new stake in Mohawk Industries in the fourth quarter worth $258,000. Meeder Asset Management Inc. lifted its stake in Mohawk Industries by 8.8% in the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after acquiring an additional 6,863 shares during the period. Townsend & Associates Inc lifted its stake in Mohawk Industries by 1.2% in the fourth quarter. Townsend & Associates Inc now owns 263,143 shares of the company’s stock worth $34,382,000 after acquiring an additional 3,078 shares during the period. JPMorgan Chase & Co. lifted its stake in Mohawk Industries by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after acquiring an additional 74,123 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in Mohawk Industries by 7.7% in the fourth quarter. New York State Teachers Retirement System now owns 50,028 shares of the company’s stock worth $5,960,000 after purchasing an additional 3,560 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Trading Down 1.1 %

Mohawk Industries stock opened at $116.33 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. Mohawk Industries, Inc. has a one year low of $104.88 and a one year high of $164.29. The stock has a market capitalization of $7.28 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41. The business’s fifty day moving average is $121.29 and its 200 day moving average is $137.26.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 17,078 shares of company stock valued at $2,203,387 over the last ninety days. Insiders own 17.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MHK shares. Truist Financial decreased their price objective on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. StockNews.com downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Wolfe Research upgraded Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a report on Wednesday, January 8th. Bank of America decreased their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Evercore ISI decreased their price objective on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.