Mohawk Industries, Inc. (NYSE:MHK) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its position in Mohawk Industries, Inc. (NYSE:MHK) by 20.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,747 shares of the company’s stock after selling 2,180 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Mohawk Industries were worth $994,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MHK. Quest Partners LLC grew its stake in shares of Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after buying an additional 84 shares during the period. Quarry LP increased its stake in Mohawk Industries by 70.4% during the fourth quarter. Quarry LP now owns 421 shares of the company’s stock worth $44,000 after acquiring an additional 174 shares during the last quarter. Quent Capital LLC raised its position in Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after purchasing an additional 106 shares during the period. TFO Wealth Partners LLC lifted its stake in shares of Mohawk Industries by 32,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 652 shares of the company’s stock valued at $67,000 after purchasing an additional 650 shares during the last quarter. Finally, AM Squared Ltd purchased a new position in shares of Mohawk Industries during the 2nd quarter worth $68,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $157.60 on Friday. The business has a 50-day simple moving average of $148.03 and a 200-day simple moving average of $127.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $164.05. The company has a market cap of $10.06 billion, a PE ratio of -24.10, a P/E/G ratio of 1.15 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.25. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.76 EPS. On average, equities research analysts forecast that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MHK has been the topic of a number of recent analyst reports. Loop Capital upped their target price on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Barclays increased their price objective on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their target price on Mohawk Industries from $108.00 to $140.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their price target on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price objective on Mohawk Industries from $110.00 to $140.00 and gave the company an “underweight” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Insiders Place Their Bets

In other news, VP Rodney David Patton sold 755 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the transaction, the insider now owns 118,709 shares of the company’s stock, valued at $17,979,665.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Rodney David Patton sold 755 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $162.78, for a total value of $122,898.90. Following the transaction, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The disclosure for this sale can be found here. Insiders sold 4,415 shares of company stock valued at $673,387 in the last ninety days. Insiders own 17.10% of the company’s stock.

Mohawk Industries 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.