Fmr LLC Has $350.20 Million Stake in Mohawk Industries, Inc. (NYSE:MHK)

Fmr LLC raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 52.3% in the third quarter, Holdings Channel reports. The fund owned 2,179,510 shares of the company’s stock after acquiring an additional 748,070 shares during the period. Fmr LLC’s holdings in Mohawk Industries were worth $350,204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Qsemble Capital Management LP bought a new position in Mohawk Industries during the 3rd quarter valued at about $210,000. Bank of Montreal Can boosted its holdings in shares of Mohawk Industries by 64.6% in the 3rd quarter. Bank of Montreal Can now owns 139,867 shares of the company’s stock worth $22,212,000 after acquiring an additional 54,914 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Mohawk Industries by 593.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,322 shares of the company’s stock worth $534,000 after acquiring an additional 2,843 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Mohawk Industries by 13.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,417 shares of the company’s stock valued at $388,000 after purchasing an additional 286 shares during the last quarter. Finally, WESPAC Advisors LLC acquired a new position in Mohawk Industries in the third quarter worth $632,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Trading Down 0.2 %

Shares of NYSE MHK opened at $138.83 on Friday. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a twelve month low of $86.26 and a twelve month high of $164.29. The company’s fifty day moving average is $147.82 and its 200-day moving average is $137.85. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.54 and a beta of 1.38.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the transaction, the insider now owns 118,709 shares in the company, valued at $17,979,665.14. The trade was a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 17.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Truist Financial reduced their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the company from $160.00 to $196.00 in a report on Monday, October 21st. Wells Fargo & Company upgraded Mohawk Industries from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Finally, Royal Bank of Canada dropped their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus price target of $162.08.

Mohawk Industries Company Profile

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.