State of Michigan Retirement System increased its stake in Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,281 shares of the company’s stock after acquiring an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Mohawk Industries were worth $2,033,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Pinebridge Investments L.P. boosted its stake in Mohawk Industries by 29.6% during the fourth quarter. Pinebridge Investments L.P. now owns 2,922 shares of the company’s stock valued at $299,000 after buying an additional 668 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Mohawk Industries by 1,508.1% during the fourth quarter. SG Americas Securities LLC now owns 18,332 shares of the company’s stock worth $1,874,000 after buying an additional 17,192 shares in the last quarter. First Hawaiian Bank bought a new stake in Mohawk Industries during the fourth quarter worth approximately $201,000. OLD National Bancorp IN boosted its position in shares of Mohawk Industries by 7.7% in the 4th quarter. OLD National Bancorp IN now owns 5,858 shares of the company’s stock valued at $599,000 after purchasing an additional 418 shares during the period. Finally, TD Asset Management Inc boosted its stake in Mohawk Industries by 2.5% in the 4th quarter. TD Asset Management Inc now owns 13,345 shares of the company’s stock worth $1,364,000 after purchasing an additional 327 shares during the period. 75.55% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have issued reports on MHK. StockNews.com assumed coverage on shares of Mohawk Industries in a research note on Thursday, May 18th. They set a “hold” rating for the company. Loop Capital raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, April 11th. Bank of America reduced their price objective on Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating for the company in a research report on Wednesday, April 19th. Finally, Jefferies Financial Group raised their target price on Mohawk Industries from $115.00 to $118.00 and gave the stock a “hold” rating in a research report on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $122.17.
Mohawk Industries Stock Performance
Mohawk Industries (NYSE:MHK – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.47. The firm had revenue of $2.81 billion during 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%. The business’s revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.78 earnings per share. As a group, research analysts predict that Mohawk Industries, Inc. will post 9.48 EPS for the current fiscal 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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