Ontario Teachers Pension Plan Board Acquires New Shares in Mohawk Industries, Inc. (NYSE:MHK)

Ontario Teachers Pension Plan Board acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 9,587 shares of the company’s stock, valued at approximately $992,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fifth Third Bancorp lifted its stake in shares of Mohawk Industries by 5.5% in the 4th quarter. Fifth Third Bancorp now owns 2,006 shares of the company’s stock valued at $208,000 after purchasing an additional 105 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in Mohawk Industries by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 23,225 shares of the company’s stock worth $1,993,000 after acquiring an additional 120 shares during the last quarter. Signaturefd LLC lifted its position in Mohawk Industries by 29.4% during the 4th quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $58,000 after acquiring an additional 128 shares during the last quarter. SG Americas Securities LLC lifted its position in Mohawk Industries by 2.1% during the 4th quarter. SG Americas Securities LLC now owns 6,744 shares of the company’s stock worth $698,000 after acquiring an additional 136 shares during the last quarter. Finally, Huntington National Bank lifted its position in Mohawk Industries by 36.0% during the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock worth $46,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

NYSE MHK opened at $116.43 on Friday. The stock has a market cap of $7.44 billion, a P/E ratio of -17.80, a PEG ratio of 1.15 and a beta of 1.35. The company’s 50-day simple moving average is $119.16 and its 200 day simple moving average is $108.33. Mohawk Industries, Inc. has a twelve month low of $76.02 and a twelve month high of $131.19. The company has a quick ratio of 1.02, a current ratio of 1.83 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 earnings per share. As a group, research analysts forecast that Mohawk Industries, Inc. will post 9.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Loop Capital cut their target price on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, April 29th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Barclays cut their target price on shares of Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Royal Bank of Canada boosted their target price on shares of Mohawk Industries from $106.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Finally, Truist Financial upped their price objective on shares of Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $121.33.

Insider Activity at Mohawk Industries

In related news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the sale, the vice president now owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.10% of the stock is currently owned by insiders.

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.