Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 35.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 22,473 shares of the company’s stock after buying an additional 5,855 shares during the period. State of Alaska Department of Revenue’s holdings in Mohawk Industries were worth $2,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MHK. Meeder Asset Management Inc. raised its holdings in Mohawk Industries by 8.8% during the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company’s stock worth $13,583,000 after purchasing an additional 6,863 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Mohawk Industries by 2.5% during the 3rd 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 during the period. Natixis Advisors LLC raised its stake in shares of Mohawk Industries by 19.8% in the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after buying an additional 14,480 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Mohawk Industries in the third quarter valued at $1,935,000. Finally, Pacer Advisors Inc. boosted its stake in Mohawk Industries by 106.7% during the fourth quarter. Pacer Advisors Inc. now owns 8,259 shares of the company’s stock valued at $984,000 after buying an additional 4,264 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Down 1.2 %

Shares of Mohawk Industries stock opened at $120.46 on Monday. Mohawk Industries, Inc. has a 1 year low of $101.83 and a 1 year high of $164.29. The company has a market cap of $7.60 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.60 and a beta of 1.41. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $124.30 and a 200 day moving average price of $140.65.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.00%. As a group, analysts expect that Mohawk Industries, Inc. will post 10.71 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the sale, the insider now directly owns 2,453 shares in the company, valued at approximately $332,332.44. This trade represents a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 19,078 shares of company stock valued at $2,474,347 in the last quarter. Company insiders own 17.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MHK shares. JPMorgan Chase & Co. raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price target for the company from $151.00 to $161.00 in a report on Friday, January 10th. Barclays cut their target price on shares of Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Loop Capital dropped their price target on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Truist Financial cut their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $154.62.

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.