Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by South Dakota Investment Council

South Dakota Investment Council raised its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 116.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,769 shares of the company's stock after buying an additional 24,098 shares during the quarter. South Dakota Investment Council owned about 0.07% of Mohawk Industries worth $5,112,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MHK. Sei Investments Co. grew its holdings in shares of Mohawk Industries by 46.3% during the 4th quarter. Sei Investments Co. now owns 91,586 shares of the company's stock valued at $10,911,000 after purchasing an additional 28,998 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Mohawk Industries by 13.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,915 shares of the company's stock worth $787,000 after buying an additional 831 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Mohawk Industries by 78.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,574 shares of the company's stock worth $408,000 after buying an additional 1,566 shares during the period. Sciencast Management LP boosted its position in Mohawk Industries by 59.1% during the 4th quarter. Sciencast Management LP now owns 6,088 shares of the company's stock worth $725,000 after buying an additional 2,262 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in Mohawk Industries during the 4th quarter worth approximately $294,000. 78.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank Of Canada cut their target price on shares of Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. dropped their price target on shares of Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company boosted their price target on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price target on the stock. Finally, Barclays dropped their price target on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries currently has an average rating of "Moderate Buy" and a consensus price target of $140.71.

Mohawk Industries Stock Performance

NYSE:MHK traded up $1.36 during mid-day trading on Wednesday, reaching $116.46. The company's stock had a trading volume of 132,817 shares, compared to its average volume of 763,407. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The firm's fifty day moving average price is $105.40 and its two-hundred day moving average price is $111.38. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.28 billion, a P/E ratio of 15.22, a PEG ratio of 4.27 and a beta of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. The company 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 firm's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.86 EPS. On average, equities analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal 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.