Mohawk Industries, Inc. (NYSE:MHK) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 343,539 shares of the company’s stock after buying an additional 30,697 shares during the period. New York State Common Retirement Fund owned 0.54% of Mohawk Industries worth $35,556,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MHK. Huntington National Bank lifted its stake in shares of Mohawk Industries by 36.0% in the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after purchasing an additional 143 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Mohawk Industries by 88.1% in the 4th quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after purchasing an additional 244 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Mohawk Industries by 29.4% in the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after purchasing an additional 128 shares in the last quarter. Byrne Asset Management LLC acquired a new position in shares of Mohawk Industries in the 4th quarter valued at about $101,000. Finally, Fifth Third Bancorp lifted its stake in shares of Mohawk Industries by 17.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,901 shares of the company’s stock valued at $163,000 after purchasing an additional 281 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MHK shares. Truist Financial lifted their price objective on Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Barclays lifted their price objective on Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Royal Bank of Canada raised their target price on Mohawk Industries from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, February 12th. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Finally, TheStreet upgraded shares of Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $118.75.

Mohawk Industries Price Performance

MHK stock opened at $110.27 on Friday. The stock’s 50 day moving average is $118.99 and its two-hundred day moving average is $102.80. Mohawk Industries, Inc. has a 52-week low of $76.02 and a 52-week high of $131.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 1.78.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, April 25th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.68 by $0.18. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 EPS. On average, analysts predict that Mohawk Industries, Inc. will post 9.56 EPS for the current fiscal year.

Insider Activity

In other news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $1,831,012.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.10% of the company’s stock.

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.