Mohawk Industries, Inc. $MHK Stock Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 49.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,781 shares of the company’s stock after buying an additional 4,868 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Mohawk Industries were worth $1,843,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of MHK. Lido Advisors LLC increased its stake in shares of Mohawk Industries by 94.4% during the third quarter. Lido Advisors LLC now owns 4,127 shares of the company’s stock worth $515,000 after acquiring an additional 2,004 shares during the period. New York Life Investment Management LLC raised its holdings in Mohawk Industries by 14.5% during the third quarter. New York Life Investment Management LLC now owns 7,353 shares of the company’s stock worth $917,000 after purchasing an additional 932 shares in the last quarter. AlphaCore Capital LLC purchased a new position in Mohawk Industries during the third quarter worth about $291,000. Fulcrum Asset Management LLP lifted its position in Mohawk Industries by 1,204.0% in the third quarter. Fulcrum Asset Management LLP now owns 17,304 shares of the company’s stock valued at $2,160,000 after purchasing an additional 15,977 shares during the period. Finally, Ethic Inc. lifted its position in Mohawk Industries by 35.6% in the third quarter. Ethic Inc. now owns 4,700 shares of the company’s stock valued at $586,000 after purchasing an additional 1,233 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MHK. Barclays lifted their price objective on Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. Truist Financial increased their target price on Mohawk Industries from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Deutsche Bank reissued a “hold” rating and issued a $121.00 price target on shares of Mohawk Industries in a report on Tuesday, August 4th. Robert W. Baird raised their price target on Mohawk Industries from $132.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Finally, Wall Street Zen downgraded Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $138.92.

Mohawk Industries Price Performance

Shares of MHK stock traded up $0.58 during midday trading on Friday, reaching $147.22. 751,099 shares of the company traded hands, compared to its average volume of 1,553,778. The firm’s 50 day simple moving average is $129.54 and its two-hundred day simple moving average is $118.00. Mohawk Industries, Inc. has a 1-year low of $92.99 and a 1-year high of $158.81. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.91 and a quick ratio of 1.09. The firm has a market cap of $8.56 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.18.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, October 29th. The company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.58 by $0.14. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Mohawk Industries had a return on equity of 7.47% and a net margin of 4.63%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.67 EPS. On average, equities research analysts expect that Mohawk Industries, Inc. will post 9.76 EPS for the current fiscal year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 3,000 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $150.01, for a total transaction of $450,030.00. Following the sale, the insider directly owned 2,332 shares in the company, valued at approximately $349,823.32. The trade was a 56.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey S. Lorberbaum sold 45,750 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $127.18, for a total value of $5,818,485.00. Following the completion of the sale, the chief executive officer directly owned 78,425 shares in the company, valued at $9,974,091.50. This trade represents a 36.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 126,946 shares of company stock valued at $16,876,104. Company insiders own 17.90% of the company’s stock.

About Mohawk Industries

Mohawk Industries, Inc. is a global flooring manufacturer headquartered in Calhoun, Georgia. Its roots trace to a carpet-weaving business established in Amsterdam, New York, in 1878. The company makes flooring for residential and commercial customers, including carpet, rugs, ceramic and porcelain tile, natural stone, hardwood, laminate and luxury vinyl products. Its portfolio includes brands such as Mohawk, Daltile, American Olean, Karastan and Pergo. Mohawk serves markets across North America and internationally, with manufacturing and distribution operations in several regions.