Louisiana State Employees Retirement System Buys Shares of 3,200 Mohawk Industries, Inc. (NYSE:MHK)

Louisiana State Employees Retirement System purchased a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,200 shares of the company’s stock, valued at approximately $331,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MHK. JPMorgan Chase & Co. increased its holdings in Mohawk Industries by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock valued at $208,972,000 after buying an additional 103,813 shares during the last quarter. Ariel Investments LLC raised its position in shares of Mohawk Industries by 3.9% during the 3rd quarter. Ariel Investments LLC now owns 2,059,100 shares of the company’s stock valued at $176,691,000 after acquiring an additional 77,974 shares in the last quarter. Invesco Ltd. lifted its stake in Mohawk Industries by 9.7% during the third quarter. Invesco Ltd. now owns 1,759,210 shares of the company’s stock worth $150,958,000 after purchasing an additional 156,230 shares during the last quarter. Shapiro Capital Management LLC boosted its holdings in Mohawk Industries by 4.0% in the third quarter. Shapiro Capital Management LLC now owns 1,718,687 shares of the company’s stock worth $147,481,000 after purchasing an additional 65,934 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Mohawk Industries by 1,152.0% during the fourth quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock valued at $82,462,000 after purchasing an additional 733,097 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Insiders Place Their Bets

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares of the company’s stock, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.10% of the stock is owned by insiders.

Mohawk Industries Stock Down 0.4 %

MHK opened at $114.87 on Thursday. The stock’s 50 day moving average price is $118.97 and its 200 day moving average price is $103.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02. The stock has a market cap of $7.34 billion, a P/E ratio of -17.56 and a beta of 1.34. Mohawk Industries, Inc. has a 12 month low of $76.02 and a 12 month high of $131.19.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.64 billion. Mohawk Industries had a positive return on equity of 7.72% and a negative net margin of 3.77%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.75 earnings per share. As a group, research analysts predict that Mohawk Industries, Inc. will post 9.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MHK. Wells Fargo & Company decreased their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, January 22nd. StockNews.com upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Truist Financial increased their price target on Mohawk Industries from $127.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada boosted their price objective on Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, Loop Capital lowered their price objective on Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Mohawk Industries presently has an average rating of “Hold” and a consensus target price of $121.00.

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.