State of Alaska Department of Revenue Decreases Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

State of Alaska Department of Revenue lowered its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,208 shares of the company’s stock after selling 575 shares during the period. State of Alaska Department of Revenue’s holdings in Mohawk Industries were worth $1,676,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MHK. Wilsey Asset Management Inc. grew its stake in shares of Mohawk Industries by 1.5% in the fourth quarter. Wilsey Asset Management Inc. now owns 132,361 shares of the company’s stock worth $13,699,000 after purchasing an additional 1,956 shares during the last quarter. IFG Advisory LLC grew its position in shares of Mohawk Industries by 159.8% in the 4th quarter. IFG Advisory LLC now owns 32,115 shares of the company’s stock worth $3,324,000 after buying an additional 19,752 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Mohawk Industries by 25.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 88,711 shares of the company’s stock valued at $9,182,000 after buying an additional 17,961 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Mohawk Industries by 1,152.0% during the fourth quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock valued at $82,462,000 after acquiring an additional 733,097 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in Mohawk Industries by 2.8% in the fourth quarter. Raymond James & Associates now owns 16,570 shares of the company’s stock worth $1,715,000 after acquiring an additional 451 shares during the period. Institutional investors own 78.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Mohawk Industries from a “hold” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $152.00 in a research report on Monday, February 12th. Barclays lifted their price objective on Mohawk Industries from $100.00 to $122.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Royal Bank of Canada increased their target price on Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, February 12th. Truist Financial lifted their price target on Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, The Goldman Sachs Group increased their price objective on Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $117.56.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $122.36 on Friday. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19. The firm’s 50-day moving average is $117.81 and its 200 day moving average is $100.18. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of -17.68 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.10. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 earnings per share. Sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.59 EPS for the current fiscal year.

Insider Activity

In other news, VP Rodney David Patton sold 1,551 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the transaction, the vice president now directly owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.20% of the company’s stock.

About Mohawk Industries

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.