State of Alaska Department of Revenue lowered its stake in Mohawk Industries, Inc. (NYSE:MHK) by 5.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,575 shares of the company’s stock after selling 1,063 shares during the period. State of Alaska Department of Revenue’s holdings in Mohawk Industries were worth $2,590,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Lavaca Capital LLC acquired a new position in shares of Mohawk Industries in the first quarter valued at approximately $25,000. Penserra Capital Management LLC acquired a new position in shares of Mohawk Industries in the first quarter valued at approximately $25,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Mohawk Industries in the first quarter valued at approximately $38,000. North Star Investment Management Corp. acquired a new position in shares of Mohawk Industries in the first quarter valued at approximately $50,000. Finally, Parallel Advisors LLC increased its holdings in shares of Mohawk Industries by 28.0% in the first quarter. Parallel Advisors LLC now owns 452 shares of the company’s stock valued at $57,000 after purchasing an additional 99 shares during the period. 80.65% of the stock is currently owned by institutional investors and hedge funds.
MHK traded down $2.01 during trading on Friday, reaching $120.38. 759,759 shares of the stock were exchanged, compared to its average volume of 920,578. The stock’s 50 day moving average price is $146.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.30 and a quick ratio of 0.66. The firm has a market capitalization of $8.86 billion, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 2.38 and a beta of 1.38. Mohawk Industries, Inc. has a 1 year low of $109.35 and a 1 year high of $196.30.
Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 25th. The company reported $2.89 EPS for the quarter, topping the Zacks’ consensus estimate of $2.87 by $0.02. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.65 billion. Mohawk Industries had a return on equity of 10.50% and a net margin of 7.79%. Mohawk Industries’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.51 earnings per share. Equities research analysts anticipate that Mohawk Industries, Inc. will post 10.04 EPS for the current fiscal year.
In other Mohawk Industries news, insider Suzanne L. Helen sold 4,200 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $148.04, for a total transaction of $621,768.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bernard Thiers sold 2,800 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $149.85, for a total value of $419,580.00. Following the completion of the sale, the insider now owns 43,559 shares in the company, valued at $6,527,316.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,000 shares of company stock worth $4,481,028. 18.00% of the stock is owned by company insiders.
A number of research analysts have recently issued reports on MHK shares. Wells Fargo & Co lowered Mohawk Industries from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $135.00 to $115.00 in a report on Monday, July 29th. Jefferies Financial Group upgraded Mohawk Industries from a “hold” rating to a “buy” rating and lifted their price target for the company from $145.00 to $167.00 in a research note on Tuesday, April 30th. Buckingham Research upgraded Mohawk Industries from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $115.00 to $117.00 in a research note on Tuesday, July 30th. Stifel Nicolaus decreased their price target on Mohawk Industries from $180.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. decreased their price target on Mohawk Industries from $130.00 to $118.00 and set an “underweight” rating on the stock in a research note on Monday, July 29th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Mohawk Industries has a consensus rating of “Hold” and an average price target of $142.59.
About Mohawk Industries
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).
Further Reading: Buy-Side Analysts
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