Public Employees Retirement System of Ohio lowered its stake in Mohawk Industries, Inc. (NYSE:MHK) by 3.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 64,703 shares of the company’s stock after selling 2,283 shares during the period. Public Employees Retirement System of Ohio owned 0.09% of Mohawk Industries worth $6,584,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of MHK. Stellar Capital Management LLC grew its stake in Mohawk Industries by 0.9% in the second quarter. Stellar Capital Management LLC now owns 15,833 shares of the company’s stock worth $1,611,000 after purchasing an additional 145 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Mohawk Industries by 131.7% during the 2nd quarter. Captrust Financial Advisors now owns 3,105 shares of the company’s stock worth $303,000 after buying an additional 1,765 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Mohawk Industries by 1,406.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,342 shares of the company’s stock worth $645,000 after acquiring an additional 5,921 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Mohawk Industries by 162.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,590 shares of the company’s stock valued at $1,892,000 after acquiring an additional 11,498 shares during the last quarter. Finally, Channing Capital Management LLC increased its holdings in shares of Mohawk Industries by 10.3% in the 2nd quarter. Channing Capital Management LLC now owns 70,943 shares of the company’s stock valued at $7,219,000 after acquiring an additional 6,634 shares during the last quarter. Institutional investors and hedge funds own 77.58% of the company’s stock.
In other news, insider Cock Paul F. De sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $90.47, for a total value of $135,705.00. Following the completion of the sale, the insider now directly owns 21,675 shares of the company’s stock, valued at approximately $1,960,937.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.50% of the stock is currently owned by insiders.
Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.46. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Mohawk Industries had a net margin of 5.20% and a return on equity of 6.40%. The company’s revenue was down 21.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.89 earnings per share. As a group, sell-side analysts expect that Mohawk Industries, Inc. will post 5.85 earnings per share for the current fiscal year.
A number of research firms have commented on MHK. SunTrust Banks lifted their price objective on shares of Mohawk Industries from $115.00 to $119.00 in a report on Wednesday, July 8th. Credit Suisse Group initiated coverage on shares of Mohawk Industries in a report on Wednesday, May 27th. They issued an “underperform” rating and a $62.00 price target for the company. Truist Financial dropped their price objective on shares of Mohawk Industries from $119.00 to $98.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Nomura raised their target price on shares of Mohawk Industries from $107.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Zacks Investment Research raised Mohawk Industries from a “sell” rating to a “hold” rating and set a $88.00 target price for the company in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Mohawk Industries has a consensus rating of “Hold” and an average price target of $101.00.
Mohawk Industries Company Profile
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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