State of Wisconsin Investment Board lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,512 shares of the company’s stock after purchasing an additional 354 shares during the quarter. State of Wisconsin Investment Board’s holdings in Mohawk Industries were worth $13,180,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS raised its position in Mohawk Industries by 21.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 141,398 shares of the company’s stock worth $30,297,000 after acquiring an additional 25,396 shares in the last quarter. Jennison Associates LLC raised its position in Mohawk Industries by 2.7% in the second quarter. Jennison Associates LLC now owns 236,714 shares of the company’s stock worth $50,721,000 after acquiring an additional 6,151 shares in the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new position in Mohawk Industries in the second quarter worth $1,043,000. Apertura Capital LLC purchased a new position in Mohawk Industries in the second quarter worth $1,650,000. Finally, Victory Capital Management Inc. raised its position in Mohawk Industries by 12.3% in the second quarter. Victory Capital Management Inc. now owns 18,322 shares of the company’s stock worth $3,926,000 after acquiring an additional 2,012 shares in the last quarter. Institutional investors and hedge funds own 77.96% of the company’s stock.

In other news, insider Bernard Thiers sold 10,000 shares of the firm’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $212.60, for a total value of $2,126,000.00. Following the completion of the transaction, the insider now owns 45,156 shares in the company, valued at $9,600,165.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Filip Balcaen purchased 50,000 shares of the company’s stock in a transaction dated Friday, July 27th. The stock was purchased at an average price of $183.02 per share, with a total value of $9,151,000.00. Following the transaction, the director now owns 776 shares of the company’s stock, valued at $142,023.52. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 110,000 shares of company stock valued at $20,167,250. Company insiders own 16.80% of the company’s stock.

Several research analysts have issued reports on MHK shares. Stifel Nicolaus cut their price objective on Mohawk Industries from $290.00 to $235.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Gabelli reiterated a “buy” rating on shares of Mohawk Industries in a research report on Friday, July 27th. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. JPMorgan Chase & Co. cut their price objective on Mohawk Industries from $282.00 to $250.00 and set a “neutral” rating for the company in a research report on Tuesday, May 1st. Finally, Northcoast Research set a $225.00 price objective on Mohawk Industries and gave the stock a “buy” rating in a research report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. Mohawk Industries has an average rating of “Buy” and an average price target of $254.07.

Shares of MHK stock opened at $190.06 on Friday. Mohawk Industries, Inc. has a fifty-two week low of $177.00 and a fifty-two week high of $286.85. The firm has a market capitalization of $13.60 billion, a PE ratio of 13.96, a PEG ratio of 1.92 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.74 and a quick ratio of 0.99.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Wednesday, July 25th. The company reported $3.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.90 by ($0.39). Mohawk Industries had a net margin of 9.34% and a return on equity of 14.35%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the prior year, the business earned $3.72 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. sell-side analysts anticipate that Mohawk Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Mohawk Industries Company Profile

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).

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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