Metropolitan Life Insurance Co. NY trimmed its position in Mohawk Industries (NYSE:MHK) by 67.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,814 shares of the company’s stock after selling 20,237 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Mohawk Industries were worth $2,708,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of MHK. Nationwide Fund Advisors lifted its stake in shares of Mohawk Industries by 3.1% during the third quarter. Nationwide Fund Advisors now owns 130,496 shares of the company’s stock worth $32,299,000 after buying an additional 3,953 shares during the period. Sei Investments Co. lifted its stake in shares of Mohawk Industries by 539.4% during the third quarter. Sei Investments Co. now owns 15,474 shares of the company’s stock worth $3,830,000 after buying an additional 13,054 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Mohawk Industries by 9.8% during the third quarter. New York State Common Retirement Fund now owns 169,438 shares of the company’s stock worth $41,938,000 after buying an additional 15,180 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Mohawk Industries during the third quarter worth $212,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Mohawk Industries by 12.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,846 shares of the company’s stock worth $2,054,000 after buying an additional 896 shares during the period. Institutional investors and hedge funds own 78.67% of the company’s stock.
Several research firms have recently commented on MHK. Loop Capital began coverage on shares of Mohawk Industries in a research note on Thursday, March 1st. They set a “hold” rating and a $261.00 price objective for the company. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Goldman Sachs downgraded shares of Mohawk Industries from a “conviction-buy” rating to a “buy” rating and lowered their price objective for the stock from $306.00 to $292.00 in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating and set a $303.00 price objective for the company in a research note on Monday, February 5th. Finally, Robert W. Baird lowered their price objective on shares of Mohawk Industries from $312.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $293.07.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, February 8th. The company reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.10. Mohawk Industries had a net margin of 10.24% and a return on equity of 15.44%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm posted $3.26 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. equities analysts anticipate that Mohawk Industries will post 15.65 EPS for the current fiscal year.
In other news, insider Chistopher Wellborn sold 8,707 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $252.00, for a total transaction of $2,194,164.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rodney David Patton sold 911 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $236.00, for a total transaction of $214,996.00. The disclosure for this sale can be found here. Insiders sold 34,595 shares of company stock valued at $8,603,365 in the last ninety days. 17.00% of the stock is owned by corporate insiders.
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Mohawk Industries Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).
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