Texas Permanent School Fund Reduces Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Texas Permanent School Fund decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHKGet Rating) by 4.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,765 shares of the company’s stock after selling 351 shares during the period. Texas Permanent School Fund’s holdings in Mohawk Industries were worth $839,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MHK. Bogart Wealth LLC purchased a new stake in shares of Mohawk Industries during the second quarter worth about $25,000. Exchange Traded Concepts LLC purchased a new stake in shares of Mohawk Industries during the second quarter worth about $28,000. First Horizon Advisors Inc. boosted its position in Mohawk Industries by 150.0% in the second quarter. First Horizon Advisors Inc. now owns 365 shares of the company’s stock valued at $44,000 after buying an additional 219 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in Mohawk Industries by 35.0% in the first quarter. SRS Capital Advisors Inc. now owns 359 shares of the company’s stock valued at $45,000 after buying an additional 93 shares during the last quarter. Finally, Sentry Investment Management LLC boosted its position in Mohawk Industries by 506.6% in the second quarter. Sentry Investment Management LLC now owns 370 shares of the company’s stock valued at $46,000 after buying an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 6,300 shares of the company’s 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 completion of the transaction, the insider now directly owns 25,953 shares of the company’s stock, valued at approximately $2,914,521.90. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 18.90% of the company’s stock.

Mohawk Industries Trading Up 1.1 %

Shares of MHK stock opened at $99.97 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.50 and a quick ratio of 0.76. The company has a market cap 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 has a 50 day simple moving average of $97.07 and a 200-day simple moving average of $116.73. Mohawk Industries, Inc. has a 1-year low of $87.01 and a 1-year high of $192.00.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Raymond James lowered Mohawk Industries from a “strong-buy” rating to a “market perform” rating in a research report on Monday, August 1st. Credit Suisse Group dropped their target price on Mohawk Industries to $109.00 in a research report on Thursday, October 20th. TheStreet lowered Mohawk Industries from a “b-” rating to a “c+” rating in a research report on Friday, August 26th. Robert W. Baird dropped their target price on Mohawk Industries from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. Finally, The Goldman Sachs Group lowered their price objective 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. Three equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $131.29.

About Mohawk Industries

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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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