Mohawk Industries, Inc. (NYSE:MHK) Shares Purchased by Quest Partners LLC

Quest Partners LLC lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 1,582.3% during the third quarter, Holdings Channel reports. The fund owned 4,946 shares of the company’s stock after purchasing an additional 4,652 shares during the quarter. Quest Partners LLC’s holdings in Mohawk Industries were worth $795,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Chesapeake Capital Corp IL boosted its stake in Mohawk Industries by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 3,300 shares of the company’s stock valued at $524,000 after acquiring an additional 720 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of Mohawk Industries by 19.8% during the third quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after purchasing an additional 14,480 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Mohawk Industries in the third quarter worth about $249,000. CIBC Asset Management Inc increased its holdings in Mohawk Industries by 7.0% in the third quarter. CIBC Asset Management Inc now owns 7,626 shares of the company’s stock valued at $1,225,000 after buying an additional 497 shares during the last quarter. Finally, ING Groep NV acquired a new stake in Mohawk Industries during the third quarter valued at approximately $644,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Price Performance

Shares of MHK opened at $137.91 on Friday. Mohawk Industries, Inc. has a one year low of $82.71 and a one year high of $164.29. The stock’s fifty day moving average is $150.04 and its 200-day moving average is $136.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MHK shares. Truist Financial lowered their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a report on Monday, October 28th. Jefferies Financial Group raised their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $120.00 to $177.00 in a research report on Friday, July 26th. Barclays cut their target price on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their price target on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mohawk Industries presently has an average rating of “Moderate Buy” and an average price target of $162.08.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the transaction, the insider now directly owns 118,709 shares in the company, valued at $17,979,665.14. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.10% of the stock is owned by corporate 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.