Mohawk Industries, Inc. (MHK) Shares Sold by Texas Permanent School Fund
Texas Permanent School Fund reduced its position in Mohawk Industries, Inc. (NYSE:MHK) by 6.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,410 shares of the company’s stock after selling 1,263 shares during the period. Texas Permanent School Fund’s holdings in Mohawk Industries were worth $3,889,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. MSI Financial Services Inc raised its position in shares of Mohawk Industries by 13.1% in the third quarter. MSI Financial Services Inc now owns 597 shares of the company’s stock worth $120,000 after buying an additional 69 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Mohawk Industries by 612.2% in the second quarter. Tower Research Capital LLC TRC now owns 641 shares of the company’s stock worth $122,000 after buying an additional 551 shares during the last quarter. Cornerstone Advisors Inc. raised its position in shares of Mohawk Industries by 5,954.5% in the third quarter. Cornerstone Advisors Inc. now owns 666 shares of the company’s stock worth $133,000 after buying an additional 655 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of Mohawk Industries by 96.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 874 shares of the company’s stock worth $166,000 after buying an additional 428 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Mohawk Industries during the third quarter worth $200,000. 76.68% of the stock is owned by hedge funds and other institutional investors.
Shares of Mohawk Industries, Inc. (NYSE:MHK) opened at 202.41 on Friday. Mohawk Industries, Inc. has a one year low of $148.56 and a one year high of $216.58. The stock has a 50 day moving average of $200.41 and a 200-day moving average of $200.84. The company’s market capitalization is $15.01 billion.
Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.04. The business earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Mohawk Industries had a net margin of 10.12% and a return on equity of 17.22%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company posted $2.98 earnings per share. On average, equities analysts forecast that Mohawk Industries, Inc. will post $12.57 earnings per share for the current fiscal year.
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A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $229.00 target price for the company in a research note on Monday, January 9th. Royal Bank Of Canada upped their target price on shares of Mohawk Industries from $245.00 to $248.00 and gave the stock an “outperform” rating in a research note on Monday, December 5th. Macquarie reaffirmed an “outperform” rating and issued a $228.00 target price on shares of Mohawk Industries in a research note on Thursday, September 22nd. Barclays PLC began coverage on shares of Mohawk Industries in a research report on Thursday, January 5th. They set an “overweight” rating and a $229.00 price target on the stock. Finally, Bank of America Corporation began coverage on shares of Mohawk Industries in a research report on Friday, September 23rd. They set a “neutral” rating and a $235.00 price target on the stock. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $231.09.
In other news, insider Chistopher Wellborn sold 7,231 shares of Mohawk Industries stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $200.00, for a total transaction of $1,446,200.00. Following the completion of the transaction, the insider now directly owns 174,926 shares in the company, valued at $34,985,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cock Frans Georges De acquired 3,750 shares of Mohawk Industries stock in a transaction dated Monday, November 28th. The shares were acquired at an average price of $200.00 per share, with a total value of $750,000.00. Following the completion of the acquisition, the director now directly owns 10,016 shares of the company’s stock, valued at $2,003,200. The disclosure for this purchase can be found here. 17.10% of the stock is currently owned by company insiders.
Mohawk Industries Company Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’s manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile (LVT) and vinyl flooring. It operates in three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products; Flooring North America (Flooring NA), which designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl, including LVT, in a range of colors, textures and patterns, and Flooring Rest of the World (Flooring ROW), which designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard, chipboards and vinyl flooring products.
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