State of Wyoming bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 19,018 shares of the company’s stock, valued at approximately $2,307,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MHK. Norges Bank acquired a new position in Mohawk Industries during the fourth quarter valued at approximately $77,528,000. AQR Capital Management LLC grew its stake in Mohawk Industries by 73.9% during the third quarter. AQR Capital Management LLC now owns 1,578,335 shares of the company’s stock worth $200,922,000 after buying an additional 670,601 shares during the period. Steadfast Capital Management LP increased its position in shares of Mohawk Industries by 96.3% in the third quarter. Steadfast Capital Management LP now owns 937,301 shares of the company’s stock worth $120,837,000 after acquiring an additional 459,700 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Mohawk Industries in the third quarter worth $36,076,000. Finally, Gendell Jeffrey L raised its stake in shares of Mohawk Industries by 136.3% in the 4th quarter. Gendell Jeffrey L now owns 445,669 shares of the company’s stock valued at $48,712,000 after acquiring an additional 257,100 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.
Mohawk Industries Trading Up 0.6%
MHK opened at $139.99 on Friday. The firm’s 50 day moving average is $117.44 and its 200-day moving average is $112.44. Mohawk Industries, Inc. has a 52-week low of $92.99 and a 52-week high of $143.13. The company has a quick ratio of 1.13, a current ratio of 1.92 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $9.48 billion, a P/E ratio of 18.54, a P/E/G ratio of 2.07 and a beta of 1.18.
Insiders Place Their Bets
In other news, insider Suzanne L. Helen sold 16,600 shares of Mohawk Industries stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $112.97, for a total transaction of $1,875,302.00. Following the sale, the insider directly owned 14,132 shares of the company’s stock, valued at approximately $1,596,492.04. The trade was a 54.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey S. Lorberbaum sold 53,314 shares of Mohawk Industries stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $131.57, for a total value of $7,014,522.98. Following the sale, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $1,315,700. The trade was a 84.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 119,882 shares of company stock worth $14,992,118 in the last quarter. 17.90% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on MHK. Barclays lifted their target price on shares of Mohawk Industries from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings upgraded Mohawk Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Wall Street Zen raised Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Truist Financial boosted their price objective on Mohawk Industries from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. decreased their target price on Mohawk Industries from $143.00 to $138.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $130.50.
Read Our Latest Stock Analysis on MHK
Mohawk Industries Profile
Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.
The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.
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