State Board of Administration of Florida Retirement System Acquires 120 Shares of Mohawk Industries, Inc. (NYSE:MHK)

State Board of Administration of Florida Retirement System lifted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,265 shares of the company’s stock after acquiring an additional 120 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of Mohawk Industries worth $7,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its position in shares of Mohawk Industries by 0.5% in the 3rd quarter. BlackRock Inc. now owns 4,571,292 shares of the company’s stock worth $446,111,000 after acquiring an additional 22,008 shares in the last quarter. FMR LLC increased its position in Mohawk Industries by 31.8% in the 2nd quarter. FMR LLC now owns 4,269,850 shares of the company’s stock valued at $434,501,000 after buying an additional 1,030,626 shares in the last quarter. Pzena Investment Management LLC increased its position in Mohawk Industries by 10.4% in the 3rd quarter. Pzena Investment Management LLC now owns 2,182,745 shares of the company’s stock valued at $213,014,000 after buying an additional 205,803 shares in the last quarter. Victory Capital Management Inc. increased its position in Mohawk Industries by 6.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,382,389 shares of the company’s stock valued at $140,672,000 after buying an additional 79,125 shares in the last quarter. Finally, Greenhaven Associates Inc. increased its position in Mohawk Industries by 262.3% in the 2nd quarter. Greenhaven Associates Inc. now owns 714,874 shares of the company’s stock valued at $72,746,000 after buying an additional 517,578 shares in the last quarter. 77.58% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Jeffrey S. Lorberbaum sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $126.00, for a total value of $378,000.00. Following the transaction, the chief executive officer now owns 53,797 shares in the company, valued at $6,778,422. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Suzanne L. Helen sold 56,996 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $126.07, for a total value of $7,185,485.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,000 shares of company stock worth $8,198,994. 18.50% of the stock is owned by company insiders.

Shares of NYSE MHK opened at $127.15 on Friday. Mohawk Industries, Inc. has a twelve month low of $56.62 and a twelve month high of $144.37. The stock’s 50 day moving average price is $109.74 and its 200-day moving average price is $95.55. The company has a market capitalization of $9.05 billion, a PE ratio of 17.16, a PEG ratio of 2.81 and a beta of 1.44. The company has a quick ratio of 1.39, a current ratio of 2.16 and a debt-to-equity ratio of 0.28.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, October 29th. The company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $1.12. Mohawk Industries had a return on equity of 6.74% and a net margin of 5.70%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the business earned $2.75 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Mohawk Industries, Inc. will post 8.15 EPS for the current fiscal year.

A number of brokerages recently commented on MHK. ValuEngine lowered Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Friday, August 7th. Barclays boosted their target price on Mohawk Industries from $106.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. They noted that the move was a valuation call. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “strong-buy” rating and set a $121.00 target price for the company in a research report on Wednesday, October 7th. Northcoast Research raised Mohawk Industries from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Thursday, September 17th. Finally, Wells Fargo & Company lifted their price target on Mohawk Industries from $75.00 to $96.00 in a research note on Monday, November 2nd. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $111.48.

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 in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

See Also: Consumer Price Index (CPI)

Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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