Retirement Systems of Alabama Sells 304 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Retirement Systems of Alabama cut its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,648 shares of the company’s stock after selling 304 shares during the period. Retirement Systems of Alabama’s holdings in Mohawk Industries were worth $1,206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its position in Mohawk Industries by 88.1% in the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock worth $54,000 after purchasing an additional 244 shares during the last quarter. Huntington National Bank grew its position in Mohawk Industries by 36.0% during the third quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after buying an additional 143 shares during the period. Signaturefd LLC increased its holdings in Mohawk Industries by 29.4% during the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after buying an additional 128 shares during the last quarter. Byrne Asset Management LLC bought a new position in Mohawk Industries in the fourth quarter worth approximately $101,000. Finally, GAMMA Investing LLC purchased a new position in shares of Mohawk Industries during the 4th quarter worth $169,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price objective on Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Loop Capital reduced their target price on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a report on Monday, April 29th. Truist Financial lifted their price target on shares of Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from $98.00 to $152.00 in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.33.

Mohawk Industries Stock Up 0.1 %

MHK opened at $118.19 on Thursday. The company has a market capitalization of $7.55 billion, a PE ratio of -18.07, a price-to-earnings-growth ratio of 1.17 and a beta of 1.35. The firm has a 50-day simple moving average of $119.22 and a two-hundred day simple moving average of $105.22. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 52 week low of $76.02 and a 52 week high of $131.19.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 earnings per share. Analysts forecast that Mohawk Industries, Inc. will post 9.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.10% of the stock is currently owned by company insiders.

Mohawk Industries 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.