New York State Teachers Retirement System decreased its holdings in Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,353 shares of the company’s stock after selling 271 shares during the quarter. New York State Teachers Retirement System owned 0.10% of Mohawk Industries worth $6,449,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in MHK. Shapiro Capital Management LLC acquired a new position in shares of Mohawk Industries in the 1st quarter valued at $96,936,000. Norges Bank acquired a new position in shares of Mohawk Industries in the 4th quarter valued at $49,448,000. Ariel Investments LLC grew its holdings in shares of Mohawk Industries by 26.8% in the 1st quarter. Ariel Investments LLC now owns 1,723,343 shares of the company’s stock worth $214,040,000 after purchasing an additional 364,085 shares during the last quarter. Kinney Asset Management LLC bought a new stake in shares of Mohawk Industries in the 4th quarter worth about $22,672,000. Finally, Invesco Ltd. grew its holdings in shares of Mohawk Industries by 26.6% in the 1st quarter. Invesco Ltd. now owns 1,039,949 shares of the company’s stock worth $129,161,000 after purchasing an additional 218,505 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Mohawk Industries in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Bank of America decreased their price objective on shares of Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating on the stock in a report on Wednesday, April 19th. Jefferies Financial Group increased their price objective on shares of Mohawk Industries from $115.00 to $118.00 and gave the stock a “hold” rating in a report on Thursday, July 13th. Finally, Loop Capital raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.17.
Mohawk Industries Stock Down 0.1 %
Mohawk Industries (NYSE:MHK – Get Free Report) last announced its quarterly earnings results on Thursday, April 27th. The company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.47. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.74 billion. Mohawk Industries had a negative net margin of 1.21% and a positive return on equity of 8.47%. Mohawk Industries’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the company posted $3.78 EPS. Equities analysts expect that Mohawk Industries, Inc. will post 9.48 EPS for the current year.
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, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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