South Dakota Investment Council Purchases 24,098 Shares of Mohawk Industries, Inc. (NYSE:MHK)

South Dakota Investment Council boosted its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 116.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,769 shares of the company's stock after purchasing an additional 24,098 shares during the period. South Dakota Investment Council owned approximately 0.07% of Mohawk Industries worth $5,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in MHK. Resona Asset Management Co. Ltd. bought a new stake in Mohawk Industries in the fourth quarter worth about $41,000. Allworth Financial LP raised its stake in shares of Mohawk Industries by 36.2% during the first quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after acquiring an additional 158 shares in the last quarter. Huntington National Bank raised its stake in shares of Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after acquiring an additional 119 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of Mohawk Industries during the fourth quarter valued at approximately $92,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Mohawk Industries during the fourth quarter valued at approximately $114,000. Institutional investors own 78.98% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on MHK shares. Wall Street Zen downgraded shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. cut their price objective on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a report on Tuesday, April 1st. They set a "hold" rating and a $121.00 price objective on the stock. Barclays cut 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 report on Monday, May 5th. Finally, Royal Bank Of Canada cut 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 report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.71.

Mohawk Industries Price Performance

Shares of MHK opened at $111.20 on Friday. The firm has a market capitalization of $6.95 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 4.34 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 1-year low of $96.24 and a 1-year high of $164.29. The company's fifty day moving average price is $105.34 and its 200-day moving average price is $111.44.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a net margin of 4.54% and a return on equity of 7.68%. The firm's quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 earnings per share. On average, equities research analysts predict 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.

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