Glenmede Trust Co. NA Trims Position in Mohawk Industries, Inc. (NYSE:MHK)

Glenmede Trust Co. NA lessened its stake in Mohawk Industries, Inc. (NYSE:MHK) by 23.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,768 shares of the company’s stock after selling 858 shares during the quarter. Glenmede Trust Co. NA’s holdings in Mohawk Industries were worth $445,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MHK. Massachusetts Financial Services Co. MA purchased a new position in Mohawk Industries in the 2nd quarter worth about $85,997,000. FMR LLC increased its stake in shares of Mohawk Industries by 52.3% during the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after buying an additional 748,070 shares during the period. Pacer Advisors Inc. increased its stake in shares of Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after buying an additional 360,628 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Mohawk Industries by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after buying an additional 292,661 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Mohawk Industries by 1,464.0% during the second quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after buying an additional 212,820 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

MHK has been the topic of several research reports. Truist Financial cut their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company upgraded Mohawk Industries from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $140.00 to $160.00 in a report on Monday, October 7th. Jefferies Financial Group lifted their price target on 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 upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Barclays cut their price target on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Mohawk Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.08.

Mohawk Industries Trading Down 3.1 %

NYSE MHK opened at $131.22 on Thursday. The stock has a market cap of $8.28 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.51 and a beta of 1.38. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12-month low of $90.22 and a 12-month high of $164.29. The company has a fifty day simple moving average of $146.49 and a two-hundred day simple moving average of $138.22.

Insider Activity

In other news, insider Suzanne L. Helen sold 660 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.10% of the company’s stock.

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.