State of Tennessee Department of Treasury Sells 9,904 Shares of Mohawk Industries, Inc. (NYSE:MHK)

State of Tennessee Department of Treasury decreased its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 47.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,013 shares of the company's stock after selling 9,904 shares during the period. State of Tennessee Department of Treasury's holdings in Mohawk Industries were worth $1,312,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MHK. Wilmington Savings Fund Society FSB bought a new stake in shares of Mohawk Industries during the third quarter valued at approximately $55,000. Resona Asset Management Co. Ltd. bought a new stake in Mohawk Industries in the 4th quarter valued at $41,000. Versant Capital Management Inc lifted its stake in Mohawk Industries by 71.0% in the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company's stock worth $64,000 after purchasing an additional 223 shares in the last quarter. R Squared Ltd bought a new position in shares of Mohawk Industries during the 4th quarter valued at about $66,000. Finally, Huntington National Bank grew its position 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 purchasing an additional 119 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MHK shares. Royal Bank of Canada dropped their price target on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a research note on Monday. Raymond James reiterated a "strong-buy" rating and set a $165.00 target price (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft assumed 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. Barclays lowered their price objective on shares of Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, Truist Financial reduced their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Seven investment 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $141.21.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 10,500 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the completion of the sale, the insider now owns 93,584 shares in the company, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.40% of the stock is owned by insiders.

Mohawk Industries Trading Up 0.7 %

Mohawk Industries stock traded up $0.67 during mid-day trading on Tuesday, hitting $102.09. The company's stock had a trading volume of 111,845 shares, compared to its average volume of 742,030. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The stock has a market cap of $6.38 billion, a PE ratio of 12.59, a P/E/G ratio of 1.44 and a beta of 1.24. The company has a 50 day moving average of $109.82 and a 200-day moving average of $122.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.52 earnings per share 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 analyst estimates of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS. On average, research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Mohawk Industries Company Profile

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.