New York State Common Retirement Fund Boosts Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

New York State Common Retirement Fund boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 343,539 shares of the company's stock after purchasing an additional 30,697 shares during the period. New York State Common Retirement Fund owned approximately 0.54% of Mohawk Industries worth $35,556,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Mohawk Industries by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 2,435,283 shares of the company's stock worth $208,972,000 after purchasing an additional 103,813 shares during the last quarter. Ariel Investments LLC raised its stake in shares of Mohawk Industries by 3.9% during the third quarter. Ariel Investments LLC now owns 2,059,100 shares of the company's stock valued at $176,691,000 after acquiring an additional 77,974 shares during the last quarter. Invesco Ltd. raised its stake in shares of Mohawk Industries by 9.7% during the third quarter. Invesco Ltd. now owns 1,759,210 shares of the company's stock valued at $150,958,000 after acquiring an additional 156,230 shares during the last quarter. Shapiro Capital Management LLC raised its stake in shares of Mohawk Industries by 4.0% during the third quarter. Shapiro Capital Management LLC now owns 1,718,687 shares of the company's stock valued at $147,481,000 after acquiring an additional 65,934 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Mohawk Industries by 1,152.0% during the fourth quarter. Pacer Advisors Inc. now owns 796,736 shares of the company's stock valued at $82,462,000 after acquiring an additional 733,097 shares during the last quarter. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Stock Performance

MHK traded up $5.18 during trading on Friday, hitting $115.45. The company's stock had a trading volume of 1,100,158 shares, compared to its average volume of 710,638. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $131.19. The firm has a market cap of $7.35 billion, a PE ratio of -16.68 and a beta of 1.34. The business's 50 day simple moving average is $118.86 and its 200-day simple moving average is $102.85.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.95% and a positive return on equity of 7.52%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the firm earned $1.75 earnings per share. The company's quarterly revenue was down 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Mohawk Industries, Inc. will post 9.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TheStreet upgraded shares of Mohawk Industries from a "d+" rating to a "c-" rating in a research report on Monday, March 4th. Truist Financial upped their price objective on shares of Mohawk Industries from $98.00 to $127.00 and gave the stock a "buy" rating in a report on Tuesday, February 13th. StockNews.com upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a report on Saturday, February 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating and upped their price objective for the stock from $98.00 to $152.00 in a report on Monday, February 12th. Finally, The Goldman Sachs Group upped their target price on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $118.75.

Insiders Place Their Bets

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the transaction, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.10% of the company's stock.

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.