Public Sector Pension Investment Board Buys 990 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Public Sector Pension Investment Board raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 12.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,965 shares of the company’s stock after acquiring an additional 990 shares during the quarter. Public Sector Pension Investment Board’s holdings in Mohawk Industries were worth $1,018,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MHK. Wells Fargo & Company MN raised its holdings in shares of Mohawk Industries by 4.0% in the fourth quarter. Wells Fargo & Company MN now owns 96,365 shares of the company’s stock valued at $9,974,000 after buying an additional 3,670 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Mohawk Industries in the fourth quarter valued at about $6,574,000. Treasurer of the State of North Carolina increased its position in Mohawk Industries by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 23,455 shares of the company’s stock worth $2,428,000 after purchasing an additional 230 shares during the period. TFO Wealth Partners LLC increased its position in Mohawk Industries by 32,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock worth $67,000 after purchasing an additional 650 shares during the period. Finally, Rafferty Asset Management LLC increased its position in Mohawk Industries by 21.2% in the fourth quarter. Rafferty Asset Management LLC now owns 25,697 shares of the company’s stock worth $2,660,000 after purchasing an additional 4,488 shares during the period. 78.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MHK shares. Robert W. Baird lifted their price objective on Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $120.00 to $177.00 in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Truist Financial lifted their price objective on Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company lifted their price objective on Mohawk Industries from $110.00 to $140.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mohawk Industries has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $159.49 on Thursday. The firm has a market capitalization of $10.19 billion, a P/E ratio of -24.39, a PEG ratio of 1.23 and a beta of 1.37. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $164.05. The business has a 50-day moving average of $151.97 and a 200-day moving average of $129.91. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.25. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the firm earned $2.76 EPS. Mohawk Industries’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Mohawk Industries, Inc. will post 10 EPS for the current year.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the transaction, the insider now directly owns 121,669 shares in the company, valued at approximately $17,881,692.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the completion of the transaction, the vice president now directly owns 12,299 shares in the company, valued at approximately $2,002,031.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the transaction, the insider now owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The disclosure for this sale can be found here. In the last three months, insiders sold 4,415 shares of company stock worth $673,387. 17.10% of the stock is owned by company insiders.

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.