WESPAC Advisors LLC Makes New $632,000 Investment in Mohawk Industries, Inc. (NYSE:MHK)

WESPAC Advisors LLC purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,931 shares of the company’s stock, valued at approximately $632,000.

Several other institutional investors also recently modified their holdings of MHK. Signaturefd LLC lifted its stake in Mohawk Industries by 12.5% during the 3rd quarter. Signaturefd LLC now owns 683 shares of the company’s stock valued at $110,000 after acquiring an additional 76 shares during the period. Quest Partners LLC lifted its position in Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after purchasing an additional 84 shares during the period. State of Michigan Retirement System boosted its holdings in Mohawk Industries by 0.7% in the second quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock worth $1,652,000 after purchasing an additional 100 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Mohawk Industries by 20.6% in the third quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after acquiring an additional 107 shares during the period. Finally, US Bancorp DE increased its position in shares of Mohawk Industries by 3.9% during the 3rd quarter. US Bancorp DE now owns 3,920 shares of the company’s stock valued at $630,000 after purchasing an additional 146 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Price Performance

Shares of MHK stock opened at $138.77 on Friday. The company’s 50-day simple moving average is $149.44 and its two-hundred day simple moving average is $137.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries, Inc. has a one year low of $82.71 and a one year high of $164.29. The company has a market capitalization of $8.76 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.52 and a beta of 1.38.

Wall Street Analyst Weigh In

MHK has been the topic of several recent research reports. Wells Fargo & Company raised Mohawk Industries from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Jefferies Financial Group increased their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Truist Financial dropped their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, The Goldman Sachs Group lifted their price objective on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and a consensus price target of $162.08.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the sale, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. This represents a 0.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.10% of the stock is owned by insiders.

About Mohawk Industries

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.