Oregon Public Employees Retirement Fund boosted its position in Mohawk Industries, Inc. (NYSE:MHK) by 137.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,593 shares of the company’s stock after acquiring an additional 9,615 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Mohawk Industries were worth $1,941,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its stake in shares of Mohawk Industries by 0.5% during the third quarter. Vanguard Group Inc now owns 6,421,024 shares of the company’s stock valued at $1,125,927,000 after buying an additional 29,538 shares during the last quarter. First Pacific Advisors LP bought a new position in shares of Mohawk Industries during the third quarter valued at about $277,086,000. Wells Fargo & Company MN grew its stake in shares of Mohawk Industries by 16.2% during the third quarter. Wells Fargo & Company MN now owns 1,273,539 shares of the company’s stock valued at $223,315,000 after buying an additional 177,109 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Mohawk Industries by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 430,950 shares of the company’s stock valued at $75,568,000 after buying an additional 1,279 shares during the last quarter. Finally, Equity Investment Corp bought a new position in shares of Mohawk Industries during the third quarter valued at about $62,627,000. 78.41% of the stock is currently owned by institutional investors and hedge funds.
Mohawk Industries stock opened at $135.78 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. The stock has a market cap of $10.07 billion, a PE ratio of 11.01, a PEG ratio of 1.75 and a beta of 1.49. Mohawk Industries, Inc. has a 1-year low of $109.35 and a 1-year high of $261.49.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, February 7th. The company reported $2.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.04. Mohawk Industries had a net margin of 8.63% and a return on equity of 12.41%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business posted $3.42 earnings per share. Mohawk Industries’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts predict that Mohawk Industries, Inc. will post 11.58 earnings per share for the current year.
Mohawk Industries announced that its Board of Directors has approved a stock buyback program on Thursday, October 25th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Mohawk Industries news, VP Rodney David Patton sold 763 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $125.27, for a total value of $95,581.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Filip Balcaen acquired 9,000 shares of the stock in a transaction on Wednesday, December 26th. The stock was bought at an average price of $109.76 per share, with a total value of $987,840.00. Following the completion of the acquisition, the director now directly owns 776 shares of the company’s stock, valued at $85,173.76. The disclosure for this purchase can be found here. Insiders acquired 216,046 shares of company stock valued at $26,149,264 over the last 90 days. 16.80% of the stock is currently owned by company insiders.
A number of research analysts have recently issued reports on the company. Loop Capital raised their price objective on Mohawk Industries to $126.00 and gave the company an “underperform” rating in a research note on Friday. Credit Suisse Group reaffirmed a “neutral” rating on shares of Mohawk Industries in a research note on Monday, October 29th. Zacks Investment Research lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Jefferies Financial Group lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Finally, Barclays dropped their target price on shares of Mohawk Industries from $215.00 to $140.00 and set a “buy” rating for the company in a report on Monday, October 29th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $167.76.
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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