Municipal Employees Retirement System of Michigan Has $1.19 Million Stake in Mohawk Industries, Inc. (MHK)

Municipal Employees Retirement System of Michigan cut its position in Mohawk Industries, Inc. (NYSE:MHK) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,810 shares of the company’s stock after selling 410 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Mohawk Industries were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Mohawk Industries by 3.3% in the second quarter. Vanguard Group Inc. now owns 6,184,173 shares of the company’s stock worth $1,494,654,000 after purchasing an additional 196,996 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Mohawk Industries by 8.9% in the second quarter. JPMorgan Chase & Co. now owns 5,029,444 shares of the company’s stock worth $1,215,567,000 after purchasing an additional 412,942 shares in the last quarter. BlackRock Inc. increased its stake in shares of Mohawk Industries by 5.8% in the second quarter. BlackRock Inc. now owns 4,575,453 shares of the company’s stock worth $1,105,842,000 after purchasing an additional 250,944 shares in the last quarter. FMR LLC increased its stake in shares of Mohawk Industries by 3.9% in the second quarter. FMR LLC now owns 2,796,757 shares of the company’s stock worth $675,948,000 after purchasing an additional 105,920 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Mohawk Industries by 0.3% in the second quarter. Principal Financial Group Inc. now owns 1,211,095 shares of the company’s stock worth $292,710,000 after purchasing an additional 4,001 shares in the last quarter. 76.74% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries, Inc. (NYSE MHK) opened at $276.74 on Tuesday. Mohawk Industries, Inc. has a 52 week low of $189.44 and a 52 week high of $278.20. The company has a market cap of $20,230.00, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 2.46 and a beta of 1.35. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.23.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, October 26th. The company reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.01. Mohawk Industries had a net margin of 10.37% and a return on equity of 16.03%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the company posted $3.50 EPS. The business’s revenue was up 6.7% on a year-over-year basis. sell-side analysts anticipate that Mohawk Industries, Inc. will post 13.52 earnings per share for the current fiscal year.

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In other Mohawk Industries news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of Mohawk Industries stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $254.95, for a total value of $5,022,515.00. Following the completion of the transaction, the chairman now directly owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.00% of the company’s stock.

Several research firms recently weighed in on MHK. MKM Partners reaffirmed a “buy” rating and set a $286.00 target price (up from $255.00) on shares of Mohawk Industries in a research note on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $291.00 target price on shares of Mohawk Industries in a research note on Monday, July 31st. Nomura reaffirmed a “buy” rating and set a $288.00 target price (up from $280.00) on shares of Mohawk Industries in a research note on Thursday, September 28th. J P Morgan Chase & Co raised their target price on shares of Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Finally, Zacks Investment Research cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $281.42.

About Mohawk Industries

Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.

Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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