Municipal Employees Retirement System of Michigan Has $1.26 Million Stake in Mohawk Industries, Inc. (NYSE:MHK)

Municipal Employees Retirement System of Michigan cut its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 29.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,220 shares of the company’s stock after selling 2,160 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Mohawk Industries were worth $1,262,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Mohawk Industries by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,987,177 shares of the company’s stock worth $1,373,997,000 after buying an additional 185,698 shares during the period. JPMorgan Chase & Co. raised its stake in Mohawk Industries by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 4,616,502 shares of the company’s stock worth $1,059,441,000 after buying an additional 159,231 shares during the period. BlackRock Inc. raised its stake in Mohawk Industries by 3,286.0% in the first quarter. BlackRock Inc. now owns 4,324,509 shares of the company’s stock worth $992,431,000 after buying an additional 4,196,790 shares during the period. FMR LLC raised its stake in Mohawk Industries by 5.5% in the first quarter. FMR LLC now owns 2,690,837 shares of the company’s stock worth $617,520,000 after buying an additional 139,080 shares during the period. Finally, Egerton Capital UK LLP raised its stake in Mohawk Industries by 3.1% in the first quarter. Egerton Capital UK LLP now owns 1,432,719 shares of the company’s stock worth $328,795,000 after buying an additional 42,925 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Mohawk Industries, Inc. (NYSE MHK) traded up 0.35% during mid-day trading on Friday, hitting $248.97. The stock had a trading volume of 603,288 shares. Mohawk Industries, Inc. has a 52 week low of $175.52 and a 52 week high of $252.89. The stock’s market capitalization is $18.51 billion. The stock has a 50 day moving average of $246.74 and a 200-day moving average of $235.35.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.60 by $0.12. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. Mohawk Industries had a return on equity of 16.45% and a net margin of 10.54%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.47 earnings per share. On average, equities research analysts predict that Mohawk Industries, Inc. will post $13.52 earnings per share for the current year.

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MHK has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $291.00 target price on shares of Mohawk Industries in a report on Monday, July 31st. BidaskClub raised Mohawk Industries from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Mohawk Industries from a “hold” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Tuesday, July 4th. Stifel Nicolaus raised their target price on Mohawk Industries from $250.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 1st. Finally, Credit Suisse Group began coverage on Mohawk Industries in a report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 target price on the stock. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $266.64.

In related news, Director Cock Frans Georges De sold 1,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $238.27, for a total transaction of $238,270.00. Following the sale, the director now owns 13,016 shares of the company’s stock, valued at $3,101,322.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Rodney David Patton sold 137 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $246.78, for a total value of $33,808.86. Following the completion of the transaction, the vice president now owns 6,924 shares of the company’s stock, valued at $1,708,704.72. The disclosure for this sale can be found here. Insiders have sold 7,724 shares of company stock worth $1,857,577 in the last three months. 17.10% of the stock is currently owned by company insiders.

About Mohawk Industries

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)

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