Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 1.9% during the second quarter, HoldingsChannel reports. The fund owned 15,157 shares of the company’s stock after buying an additional 281 shares during the period. Arizona State Retirement System’s holdings in Mohawk Industries were worth $1,722,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in shares of Mohawk Industries by 78.1% in the 4th quarter. Victory Capital Management Inc. now owns 16,980 shares of the company’s stock valued at $1,757,000 after purchasing an additional 7,446 shares in the last quarter. M&T Bank Corp increased its holdings in Mohawk Industries by 7.3% in the fourth quarter. M&T Bank Corp now owns 2,718 shares of the company’s stock valued at $281,000 after buying an additional 184 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Mohawk Industries by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 532,652 shares of the company’s stock valued at $55,129,000 after buying an additional 22,616 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Mohawk Industries by 74.1% during the 4th quarter. Teacher Retirement System of Texas now owns 7,284 shares of the company’s stock valued at $754,000 after acquiring an additional 3,099 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Mohawk Industries by 5.5% during the 4th quarter. BNP Paribas Financial Markets now owns 50,585 shares of the company’s stock worth $5,236,000 after acquiring an additional 2,648 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

MHK has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Loop Capital lifted their price target on Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays increased their price objective on shares of Mohawk Industries from $118.00 to $161.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Truist Financial lifted their target price on shares of Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group increased their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Mohawk Industries currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Mohawk Industries Stock Performance

NYSE:MHK opened at $148.38 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The firm has a market cap of $9.37 billion, a PE ratio of -22.69, a P/E/G ratio of 1.15 and a beta of 1.37. The firm has a 50 day simple moving average of $141.45 and a 200-day simple moving average of $125.97. Mohawk Industries, Inc. has a 1-year low of $76.02 and a 1-year high of $164.05.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.25. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm posted $2.76 EPS. Mohawk Industries’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts expect that Mohawk Industries, Inc. will post 10 EPS for the current year.

Insider Buying and Selling

In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the sale, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Rodney David Patton sold 755 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the transaction, the vice president now directly owns 12,299 shares in the company, valued at approximately $2,002,031.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the completion of the sale, the insider now owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,215 shares of company stock worth $874,519. 17.10% of the stock is owned by company insiders.

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.