Virginia Retirement Systems ET AL lowered its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 50.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,000 shares of the company’s stock after selling 32,900 shares during the period. Virginia Retirement Systems ET AL’s holdings in Mohawk Industries were worth $5,611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of The West raised its position in shares of Mohawk Industries by 3.6% in the third quarter. Bank of The West now owns 11,967 shares of the company’s stock valued at $2,098,000 after purchasing an additional 420 shares during the period. Markel Corp bought a new stake in shares of Mohawk Industries in the third quarter valued at approximately $5,260,000. HL Financial Services LLC bought a new stake in shares of Mohawk Industries in the third quarter valued at approximately $447,000. Commerce Bank raised its position in shares of Mohawk Industries by 10.2% in the third quarter. Commerce Bank now owns 108,788 shares of the company’s stock valued at $19,076,000 after purchasing an additional 10,065 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Mohawk Industries by 16.2% in the third quarter. Wells Fargo & Company MN now owns 1,273,539 shares of the company’s stock valued at $223,315,000 after purchasing an additional 177,109 shares during the period. 81.57% of the stock is currently owned by institutional investors.

Mohawk Industries stock opened at $125.65 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.79 and a current ratio of 1.54. The company has a market cap of $9.38 billion, a P/E ratio of 9.23, a PEG ratio of 1.52 and a beta of 1.62. Mohawk Industries, Inc. has a 1-year low of $113.45 and a 1-year high of $286.85.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, October 25th. The company reported $3.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.58 by ($0.29). The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. Mohawk Industries had a return on equity of 13.49% and a net margin of 8.81%. Research analysts expect that Mohawk Industries, Inc. will post 12.46 EPS for the current year.

Mohawk Industries declared that its board has approved a share buyback program on Thursday, October 25th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other Mohawk Industries news, insider Bernard Thiers sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $190.00, for a total value of $950,000.00. Following the completion of the transaction, the insider now owns 40,156 shares of the company’s stock, valued at approximately $7,629,640. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Filip Balcaen purchased 250,000 shares of the business’s stock in a transaction on Monday, October 29th. The stock was bought at an average cost of $118.42 per share, with a total value of $29,605,000.00. Following the purchase, the director now owns 776 shares in the company, valued at $91,893.92. The disclosure for this purchase can be found here. Insiders have purchased a total of 262,698 shares of company stock worth $31,728,885 in the last ninety days. 16.80% of the stock is currently owned by insiders.

MHK has been the topic of several research reports. Zacks Investment Research lowered shares of Mohawk Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. ValuEngine lowered shares of Mohawk Industries from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 26th. SunTrust Banks reissued a “buy” rating and issued a $270.00 price target on shares of Mohawk Industries in a research report on Friday, July 27th. Raymond James lowered shares of Mohawk Industries from a “strong-buy” rating to an “outperform” rating in a report on Friday, July 27th. Finally, Stifel Nicolaus decreased their target price on shares of Mohawk Industries from $290.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $175.06.

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About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces worldwide. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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

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