Mohawk Industries, Inc. (MHK) Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas decreased its stake in Mohawk Industries, Inc. (NYSE:MHK) by 27.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,900 shares of the company’s stock after selling 3,000 shares during the period. Employees Retirement System of Texas’ holdings in Mohawk Industries were worth $1,909,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in MHK. Riverhead Capital Management LLC boosted its stake in Mohawk Industries by 0.7% during the second quarter. Riverhead Capital Management LLC now owns 2,035 shares of the company’s stock worth $492,000 after buying an additional 15 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Mohawk Industries by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,693 shares of the company’s stock worth $1,134,000 after buying an additional 16 shares in the last quarter. ING Groep NV boosted its stake in Mohawk Industries by 0.4% during the second quarter. ING Groep NV now owns 4,877 shares of the company’s stock worth $1,179,000 after buying an additional 19 shares in the last quarter. Bellwether Investment Group LLC boosted its stake in Mohawk Industries by 1.8% during the second quarter. Bellwether Investment Group LLC now owns 1,366 shares of the company’s stock worth $330,000 after buying an additional 24 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its stake in Mohawk Industries by 0.7% during the second quarter. Calamos Wealth Management LLC now owns 4,761 shares of the company’s stock worth $1,151,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Mohawk Industries, Inc. (MHK) Shares Sold by Employees Retirement System of Texas” was originally published by Stock Observer and is the sole property of of Stock Observer. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.thestockobserver.com/2017/10/13/mohawk-industries-inc-mhk-shares-sold-by-employees-retirement-system-of-texas.html.

MHK has been the topic of a number of recent research reports. ValuEngine upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Northcoast Research initiated coverage on shares of Mohawk Industries in a research note on Thursday, October 5th. They set a “buy” rating and a $295.00 price target on the stock. Zacks Investment Research downgraded shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub downgraded shares of Mohawk Industries from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Nomura reiterated a “buy” rating and set a $288.00 price target (up previously from $280.00) on shares of Mohawk Industries in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $273.55.

In other news, Chairman Jeffrey S. Lorberbaum sold 19,700 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $254.95, for a total transaction of $5,022,515.00. Following the sale, the chairman now directly owns 21,396 shares of the company’s stock, valued at approximately $5,454,910.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Rodney David Patton sold 137 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $246.78, for a total value of $33,808.86. Following the sale, the vice president now directly owns 6,924 shares in the company, valued at $1,708,704.72. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.12. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. Mohawk Industries’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.47 EPS.

Mohawk Industries Profile

Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.

Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

Receive News & Ratings for Mohawk Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mohawk Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply