New York State Common Retirement Fund grew its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 9.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,438 shares of the company’s stock after buying an additional 15,180 shares during the period. New York State Common Retirement Fund owned 0.23% of Mohawk Industries worth $41,938,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position 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 during the last quarter. Wells Fargo & Company MN increased its position in shares of Mohawk Industries by 143.5% in the second quarter. Wells Fargo & Company MN now owns 596,358 shares of the company’s stock worth $144,133,000 after purchasing an additional 351,457 shares during the last quarter. BlackRock Inc. increased its position 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 during the last quarter. American Century Companies Inc. bought a new position in shares of Mohawk Industries in the second quarter worth approximately $53,508,000. Finally, Vanguard Group Inc. increased its position 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 during the last quarter. Hedge funds and other institutional investors own 76.59% of the company’s stock.
A number of brokerages have commented on MHK. Barclays increased their price target on shares of Mohawk Industries from $285.00 to $301.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. J P Morgan Chase & Co increased their price target on shares of Mohawk Industries from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $300.00 price target (up from $291.00) on shares of Mohawk Industries in a research report on Monday, October 30th. Stifel Nicolaus reiterated a “buy” rating and set a $270.00 price target on shares of Mohawk Industries in a research report on Sunday, October 29th. Finally, Nomura set a $300.00 price target on shares of Mohawk Industries and gave the company a “buy” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $281.42.
Mohawk Industries, Inc. (MHK) traded up $2.65 during trading hours on Friday, hitting $280.32. The stock had a trading volume of 414,200 shares, compared to its average volume of 485,543. The stock has a market capitalization of $20,840.00, a price-to-earnings ratio of 20.65, a PEG ratio of 2.51 and a beta of 1.37. Mohawk Industries, Inc. has a 52-week low of $196.50 and a 52-week high of $286.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.77 and a current ratio of 1.48.
Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.01. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.46 billion. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 earnings per share. equities research analysts forecast that Mohawk Industries, Inc. will post 13.52 EPS for the current fiscal year.
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Mohawk Industries Profile
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.
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