JPMorgan Chase & Co. Acquires 74,123 Shares of Mohawk Industries, Inc. (NYSE:MHK)

JPMorgan Chase & Co. grew its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 2.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,024,539 shares of the company’s stock after acquiring an additional 74,123 shares during the period. JPMorgan Chase & Co.’s holdings in Mohawk Industries were worth $485,983,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Quest Partners LLC raised its position in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after purchasing an additional 84 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Mohawk Industries in the third quarter worth approximately $36,000. Headlands Technologies LLC bought a new stake in Mohawk Industries in the second quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB bought a new stake in Mohawk Industries in the third quarter valued at approximately $55,000. Finally, Blue Trust Inc. raised its holdings in Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is currently owned by corporate insiders.

Mohawk Industries Stock Performance

Shares of MHK opened at $118.82 on Friday. Mohawk Industries, Inc. has a 52-week low of $96.28 and a 52-week high of $164.29. The stock’s 50-day simple moving average is $135.07 and its 200 day simple moving average is $138.94. 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 stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.41 and a beta of 1.38.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MHK. Barclays reduced their price objective on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Royal Bank of Canada lowered their price objective 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. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Finally, Jefferies Financial Group boosted their price target on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus price target of $159.17.

Mohawk Industries 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.