Strs Ohio Has $12.34 Million Stake in Mohawk Industries, Inc. (MHK)
Strs Ohio lifted its stake in Mohawk Industries, Inc. (NYSE:MHK) by 682.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,571 shares of the company’s stock after purchasing an additional 50,216 shares during the period. Strs Ohio’s holdings in Mohawk Industries were worth $12,335,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of MHK. Piedmont Investment Advisors LLC bought a new position in Mohawk Industries in the 2nd quarter worth $159,000. Rockefeller Capital Management L.P. bought a new position in Mohawk Industries in the 1st quarter worth $161,000. NuWave Investment Management LLC boosted its holdings in Mohawk Industries by 686.4% in the 2nd quarter. NuWave Investment Management LLC now owns 810 shares of the company’s stock worth $173,000 after buying an additional 707 shares during the period. Cerebellum GP LLC boosted its holdings in Mohawk Industries by 292.6% in the 2nd quarter. Cerebellum GP LLC now owns 844 shares of the company’s stock worth $181,000 after buying an additional 629 shares during the period. Finally, Engineers Gate Manager LP bought a new position in Mohawk Industries in the 2nd quarter worth $204,000. Hedge funds and other institutional investors own 77.96% of the company’s stock.
MHK opened at $190.06 on Friday. Mohawk Industries, Inc. has a 52 week low of $177.00 and a 52 week high of $286.85. The stock has a market cap of $13.60 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.92 and a beta of 1.30. The company has a quick ratio of 0.99, a current ratio of 1.74 and a debt-to-equity ratio of 0.26.
MHK has been the subject of several research reports. Stifel Nicolaus dropped their price objective on shares of Mohawk Industries from $290.00 to $235.00 and set a “buy” rating for the company in a report on Friday, July 27th. Gabelli reissued a “buy” rating on shares of Mohawk Industries in a report on Friday, July 27th. Zacks Investment Research downgraded shares of Mohawk Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. JPMorgan Chase & Co. dropped their price objective on shares of Mohawk Industries from $282.00 to $250.00 and set a “neutral” rating for the company in a report on Tuesday, May 1st. Finally, Northcoast Research set a $225.00 price objective on shares of Mohawk Industries and gave the company a “buy” rating in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. Mohawk Industries currently has a consensus rating of “Buy” and a consensus price target of $254.07.
In other Mohawk Industries news, Director Filip Balcaen bought 25,000 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were purchased at an average cost of $183.45 per share, for a total transaction of $4,586,250.00. Following the transaction, the director now owns 776 shares of the company’s stock, valued at $142,357.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bernard Thiers sold 10,000 shares of the company’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $212.60, for a total transaction of $2,126,000.00. Following the sale, the insider now owns 45,156 shares in the company, valued at $9,600,165.60. The disclosure for this sale can be found here. Insiders have bought a total of 110,000 shares of company stock worth $20,167,250 over the last 90 days. Corporate insiders own 16.80% of the company’s stock.
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: Market Capitalization – What it Means for Investors
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