State Board of Administration of Florida Retirement System increased its stake in Mohawk Industries, Inc. (NYSE:MHK) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,472 shares of the company’s stock after acquiring an additional 2,196 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.12% of Mohawk Industries worth $18,528,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. bought a new stake in Mohawk Industries during the 1st quarter valued at $161,000. Piedmont Investment Advisors LLC bought a new stake in Mohawk Industries during the 2nd quarter valued at $159,000. NuWave Investment Management LLC increased its stake in Mohawk Industries by 686.4% during the 2nd quarter. NuWave Investment Management LLC now owns 810 shares of the company’s stock valued at $173,000 after purchasing an additional 707 shares in the last quarter. Cerebellum GP LLC increased its stake in Mohawk Industries by 292.6% during the 2nd quarter. Cerebellum GP LLC now owns 844 shares of the company’s stock valued at $181,000 after purchasing an additional 629 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in Mohawk Industries by 36.1% during the 1st quarter. Cornerstone Advisors Inc. now owns 886 shares of the company’s stock valued at $206,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 77.96% of the company’s stock.
MHK opened at $190.06 on Monday. The company has a current ratio of 1.74, a quick ratio of 0.99 and a debt-to-equity ratio of 0.26. The firm has a market cap of $13.60 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.92 and a beta of 1.30. Mohawk Industries, Inc. has a 1 year low of $177.00 and a 1 year high of $286.85.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Wednesday, July 25th. The company reported $3.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.90 by ($0.39). The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Mohawk Industries had a return on equity of 14.35% and a net margin of 9.34%. Mohawk Industries’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $3.72 earnings per share. analysts expect that Mohawk Industries, Inc. will post 13.71 EPS for the current fiscal year.
A number of research firms have issued reports on MHK. Credit Suisse Group cut their price objective on shares of Mohawk Industries from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, April 27th. Loop Capital cut their price objective on shares of Mohawk Industries to $227.00 and set a “hold” rating on the stock in a report on Friday, April 27th. Stifel Nicolaus cut their price objective on shares of Mohawk Industries from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday, April 30th. Robert W. Baird set a $272.00 price objective on shares of Mohawk Industries and gave the stock a “buy” rating in a report on Monday, April 30th. Finally, Royal Bank of Canada cut their price objective on shares of Mohawk Industries to $284.00 and set an “outperform” rating on the stock in a report on Tuesday, May 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. Mohawk Industries currently has a consensus rating of “Buy” and a consensus target price of $254.07.
In related news, Director Filip Balcaen purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The shares were bought at an average cost of $183.02 per share, with a total value of $9,151,000.00. Following the acquisition, the director now owns 776 shares of the company’s stock, valued at $142,023.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard Thiers sold 10,000 shares of the business’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $212.60, for a total transaction of $2,126,000.00. Following the completion of the transaction, the insider now directly owns 45,156 shares in the company, valued at $9,600,165.60. The disclosure for this sale can be found here. Insiders purchased a total of 110,000 shares of company stock worth $20,167,250 over the last three months. 16.80% of the stock is owned by insiders.
About Mohawk Industries
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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