Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Stake in Mohawk Industries, Inc. (NYSE:MHK)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,140 shares of the company’s stock after selling 264 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Mohawk Industries were worth $1,327,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Mohawk Industries by 22.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock valued at $1,509,000 after acquiring an additional 1,731 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Mohawk Industries by 43.8% in the third quarter. Citigroup Inc. now owns 66,251 shares of the company’s stock valued at $10,645,000 after purchasing an additional 20,167 shares during the period. Cerity Partners LLC purchased a new stake in shares of Mohawk Industries during the third quarter worth approximately $1,935,000. Algert Global LLC lifted its holdings in shares of Mohawk Industries by 358.4% during the third quarter. Algert Global LLC now owns 24,990 shares of the company’s stock worth $4,015,000 after purchasing an additional 19,538 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Mohawk Industries by 13.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,417 shares of the company’s stock valued at $388,000 after buying an additional 286 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MHK shares. Robert W. Baird reduced their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. StockNews.com downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Loop Capital dropped their target price on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Barclays dropped their price objective on Mohawk Industries from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and an average price target of $146.92.

Mohawk Industries Stock Down 0.4 %

MHK stock opened at $116.05 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The company’s 50 day simple moving average is $119.81 and its 200-day simple moving average is $132.88. Mohawk Industries, Inc. has a 12 month low of $104.88 and a 12 month high of $164.29. The firm has a market capitalization of $7.26 billion, a PE ratio of 14.27, a P/E/G ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. Equities analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, the insider now directly owns 93,584 shares in the company, valued at $10,616,168.96. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.10% of the stock is currently owned by corporate 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.