New York State Teachers Retirement System Sells 5,600 Shares of Mohawk Industries, Inc. (NYSE:MHK)

New York State Teachers Retirement System lowered its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 11.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,428 shares of the company's stock after selling 5,600 shares during the period. New York State Teachers Retirement System owned about 0.07% of Mohawk Industries worth $5,073,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Mohawk Industries by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company's stock valued at $742,154,000 after buying an additional 20,327 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Mohawk Industries by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock valued at $383,076,000 after buying an additional 191,077 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Mohawk Industries by 16.3% during the fourth quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock valued at $205,545,000 after buying an additional 241,448 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Mohawk Industries by 35.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock valued at $162,793,000 after acquiring an additional 354,656 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Mohawk Industries by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company's stock valued at $154,488,000 after acquiring an additional 22,736 shares during the period. Institutional investors own 78.98% of the company's stock.

Wall Street Analyst Weigh In

MHK has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Royal Bank Of Canada lowered their price objective on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They set a "hold" rating and a $121.00 price objective on the stock. Barclays lowered their price objective on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $140.71.

Mohawk Industries Stock Up 1.1%

Shares of MHK stock traded up $1.21 on Tuesday, hitting $108.44. The company's stock had a trading volume of 23,300 shares, compared to its average volume of 764,478. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 4.28 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.01 and a quick ratio of 1.13. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The firm's fifty day moving average price is $104.13 and its 200-day moving average price is $111.90.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.56 billion. Mohawk Industries had a net margin of 4.54% and a return on equity of 7.68%. The business's revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 EPS. Research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

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.