Teacher Retirement System of Texas Decreases Stake in Mohawk Industries, Inc. (NYSE:MHK)

Teacher Retirement System of Texas cut its position in Mohawk Industries, Inc. (NYSE:MHK) by 8.9% during the fourth quarter, HoldingsChannel reports. The firm owned 16,455 shares of the company’s stock after selling 1,607 shares during the quarter. Teacher Retirement System of Texas’ holdings in Mohawk Industries were worth $1,960,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Citigroup Inc. boosted its position in shares of Mohawk Industries by 43.8% during the 3rd quarter. Citigroup Inc. now owns 66,251 shares of the company’s stock worth $10,645,000 after acquiring an additional 20,167 shares in the last quarter. Cerity Partners LLC acquired a new stake in Mohawk Industries during the third quarter worth approximately $1,935,000. Daiwa Securities Group Inc. lifted its position in shares of Mohawk Industries by 13.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,417 shares of the company’s stock worth $388,000 after buying an additional 286 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Mohawk Industries by 64.6% in the 3rd quarter. Bank of Montreal Can now owns 139,867 shares of the company’s stock valued at $22,212,000 after buying an additional 54,914 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new position in shares of Mohawk Industries in the 3rd quarter valued at $210,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Stock Up 0.3 %

Shares of NYSE:MHK opened at $117.22 on Friday. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.44 and a beta of 1.44. Mohawk Industries, Inc. has a fifty-two week low of $104.88 and a fifty-two week high of $164.29. The firm’s 50-day simple moving average is $119.31 and its 200-day simple moving average is $132.66. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, equities research analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MHK. Bank of America cut their target price on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Wolfe Research raised Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research report on Wednesday, January 8th. Truist Financial decreased their price objective on Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Robert W. Baird decreased their price target on shares of Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Moderate Buy” and an average target price of $146.92.

Mohawk Industries 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.