California Public Employees Retirement System Lowers Holdings in Mohawk Industries, Inc. (NYSE:MHK)

California Public Employees Retirement System trimmed its stake in Mohawk Industries, Inc. (NYSE:MHKGet Rating) by 8.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,251 shares of the company’s stock after selling 9,307 shares during the period. California Public Employees Retirement System’s holdings in Mohawk Industries were worth $13,185,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MHK. Comerica Bank raised its position in shares of Mohawk Industries by 3.0% in the 1st quarter. Comerica Bank now owns 7,507 shares of the company’s stock worth $968,000 after acquiring an additional 220 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Mohawk Industries by 3.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,438 shares of the company’s stock valued at $427,000 after buying an additional 100 shares in the last quarter. SG Americas Securities LLC increased its position in Mohawk Industries by 16.1% during the 1st quarter. SG Americas Securities LLC now owns 7,330 shares of the company’s stock valued at $910,000 after buying an additional 1,016 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Mohawk Industries by 133.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,494 shares of the company’s stock valued at $310,000 after buying an additional 1,427 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in Mohawk Industries by 1.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 7,332 shares of the company’s stock valued at $911,000 after buying an additional 75 shares in the last quarter. 75.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

MHK has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Mohawk Industries from $156.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, October 12th. Wells Fargo & Company reduced their target price on Mohawk Industries from $137.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 2nd. Credit Suisse Group reduced their target price on Mohawk Industries to $109.00 in a research report on Thursday, October 20th. Bank of America lowered Mohawk Industries from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $140.00 to $100.00 in a report on Tuesday, October 18th. Finally, Robert W. Baird cut their price objective on Mohawk Industries from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $131.29.

Mohawk Industries Stock Up 1.1 %

Shares of MHK opened at $99.97 on Monday. Mohawk Industries, Inc. has a 52 week low of $87.01 and a 52 week high of $192.00. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 1.71 and a beta of 1.28. The stock’s 50-day moving average price is $97.07 and its 200-day moving average price is $116.73.

Mohawk Industries (NYSE:MHKGet Rating) last issued its earnings results on Thursday, October 27th. The company reported $3.34 EPS for the quarter, hitting analysts’ consensus estimates of $3.34. Mohawk Industries had a return on equity of 11.32% and a net margin of 1.53%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the business earned $3.95 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Mohawk Industries, Inc. will post 13.03 EPS for the current year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 6,300 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $112.30, for a total transaction of $707,490.00. Following the transaction, the insider now owns 25,953 shares in the company, valued at $2,914,521.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 18.90% of the stock is currently owned by company insiders.

Mohawk Industries Company Profile

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Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces 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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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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