Teacher Retirement System of Texas Trims Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Teacher Retirement System of Texas trimmed its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,455 shares of the company’s stock after selling 1,607 shares during the quarter. Teacher Retirement System of Texas’ holdings in Mohawk Industries were worth $1,960,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MHK. JPMorgan Chase & Co. lifted its stake in shares of Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock valued at $485,983,000 after purchasing an additional 74,123 shares during the period. FMR LLC raised its position in shares of Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after acquiring an additional 748,070 shares during the period. State Street Corp boosted its stake in shares of Mohawk Industries by 1.3% during the 3rd quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after acquiring an additional 23,016 shares in the last quarter. Truist Financial Corp grew its position in shares of Mohawk Industries by 7.4% during the 4th quarter. Truist Financial Corp now owns 374,456 shares of the company’s stock valued at $44,609,000 after acquiring an additional 25,864 shares during the period. Finally, Amundi increased its stake in shares of Mohawk Industries by 117.4% in the 4th quarter. Amundi now owns 331,750 shares of the company’s stock valued at $39,239,000 after purchasing an additional 179,121 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 10,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, the insider now directly owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.10% of the stock is currently owned by company insiders.

Mohawk Industries Stock Performance

NYSE MHK opened at $117.22 on Friday. Mohawk Industries, Inc. has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The firm has a market capitalization of $7.34 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The stock’s fifty day moving average is $119.31 and its two-hundred day moving average is $132.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. On average, research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MHK shares. JPMorgan Chase & Co. cut their price objective on Mohawk Industries from $161.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group decreased their price objective on shares of Mohawk Industries from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Wells Fargo & Company decreased their price target on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, Raymond James reiterated a “strong-buy” rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.92.

Mohawk Industries Company 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, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.