New York State Common Retirement Fund Sells 121,210 Shares of Mohawk Industries, Inc. (NYSE:MHK)

New York State Common Retirement Fund reduced its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 45.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,762 shares of the company’s stock after selling 121,210 shares during the quarter. New York State Common Retirement Fund owned about 0.23% of Mohawk Industries worth $17,245,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Mohawk Industries by 39.3% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,160 shares of the company’s stock valued at $257,000 after purchasing an additional 609 shares during the last quarter. Cardinal Capital Management grew its stake in shares of Mohawk Industries by 7.3% during the fourth quarter. Cardinal Capital Management now owns 12,673 shares of the company’s stock valued at $1,510,000 after purchasing an additional 863 shares during the last quarter. Truist Financial Corp grew its stake in shares of Mohawk Industries by 7.4% during the fourth quarter. Truist Financial Corp now owns 374,456 shares of the company’s stock valued at $44,609,000 after purchasing an additional 25,864 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Mohawk Industries by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 7,816 shares of the company’s stock valued at $931,000 after purchasing an additional 190 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of Mohawk Industries by 16.9% during the fourth quarter. Sanctuary Advisors LLC now owns 3,541 shares of the company’s stock valued at $448,000 after purchasing an additional 511 shares during the last quarter. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Trading Down 1.8 %

MHK opened at $115.89 on Friday. The firm’s fifty day moving average is $121.69 and its two-hundred day moving average is $138.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. Mohawk Industries, Inc. has a twelve month low of $104.88 and a twelve month high of $164.29. The firm has a market cap of $7.32 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were 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 owns 2,453 shares of the company’s stock, valued at $332,332.44. This 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 available at this hyperlink. Insiders sold 19,078 shares of company stock valued at $2,474,347 over the last quarter. Corporate insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

MHK has been the topic of several analyst reports. The Goldman Sachs Group cut their price objective on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Evercore ISI cut their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a report on Monday, February 10th. Robert W. Baird cut their price objective on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price objective on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.92.

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.