South Dakota Investment Council Raises Holdings in Mohawk Industries, Inc. (NYSE:MHK)

South Dakota Investment Council lifted its stake in Mohawk Industries, Inc. (NYSE:MHK) by 2,091.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 96,530 shares of the company’s stock after acquiring an additional 92,126 shares during the quarter. South Dakota Investment Council’s holdings in Mohawk Industries were worth $9,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MHK. Caxton Associates LP purchased a new position in Mohawk Industries during the third quarter worth approximately $1,170,000. Northern Trust Corp boosted its position in Mohawk Industries by 4.0% during the third quarter. Northern Trust Corp now owns 597,546 shares of the company’s stock worth $51,275,000 after purchasing an additional 23,070 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in Mohawk Industries during the third quarter worth approximately $397,000. JPMorgan Chase & Co. boosted its position in Mohawk Industries by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company’s stock worth $208,972,000 after purchasing an additional 103,813 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in Mohawk Industries by 35.4% during the third quarter. Rafferty Asset Management LLC now owns 21,209 shares of the company’s stock worth $1,820,000 after purchasing an additional 5,547 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Trading Down 2.2 %

Mohawk Industries stock traded down $2.49 during trading on Wednesday, reaching $110.95. 246,623 shares of the company were exchanged, compared to its average volume of 700,264. Mohawk Industries, Inc. has a 52-week low of $76.02 and a 52-week high of $131.19. The company has a market capitalization of $7.07 billion, a P/E ratio of -16.02 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $119.13 and its two-hundred day simple moving average is $102.52.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.10. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the business posted $1.32 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts expect that Mohawk Industries, Inc. will post 9.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MHK has been the topic of a number of recent analyst reports. Barclays increased their price target on Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Royal Bank of Canada lifted their price target on Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, February 12th. Wells Fargo & Company lowered their price target on Mohawk Industries from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, January 22nd. StockNews.com raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Finally, TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $118.75.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of Mohawk Industries stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total value of $185,360.01. Following the sale, the vice president now owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.