Retirement Systems of Alabama Sells 261 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Retirement Systems of Alabama cut its position in Mohawk Industries, Inc. (NYSE:MHK) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,432 shares of the company’s stock after selling 261 shares during the quarter. Retirement Systems of Alabama’s holdings in Mohawk Industries were worth $1,837,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in Mohawk Industries during the 2nd quarter worth approximately $85,997,000. FMR LLC lifted its holdings in shares of Mohawk Industries by 52.3% during the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock worth $350,204,000 after purchasing an additional 748,070 shares during the period. Pacer Advisors Inc. grew its stake in shares of Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after purchasing an additional 360,628 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after purchasing an additional 292,661 shares during the period. Finally, Victory Capital Management Inc. raised its position in Mohawk Industries by 1,464.0% during the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock worth $25,825,000 after purchasing an additional 212,820 shares during the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

Shares of MHK opened at $119.16 on Friday. Mohawk Industries, Inc. has a one year low of $96.28 and a one year high of $164.29. The company has a market cap of $7.52 billion, a PE ratio of 13.49, a P/E/G ratio of 1.41 and a beta of 1.38. The stock has a 50-day moving average of $139.09 and a 200-day moving average of $138.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09.

Analyst Ratings Changes

MHK has been the subject of several recent research reports. StockNews.com cut Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group increased their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada dropped their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $160.00 to $196.00 in a report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus target price of $159.17.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the transaction, the insider now owns 2,453 shares in the company, valued at approximately $332,332.44. This represents a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 19,078 shares of company stock worth $2,474,347. Corporate insiders own 17.10% of the company’s stock.

About Mohawk Industries

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.