abrdn plc Decreases Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

abrdn plc trimmed its stake in Mohawk Industries, Inc. (NYSE:MHK) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,561 shares of the company’s stock after selling 192 shares during the period. abrdn plc’s holdings in Mohawk Industries were worth $1,523,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MHK. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Mohawk Industries during the first quarter valued at approximately $1,450,000. O Shaughnessy Asset Management LLC purchased a new position in Mohawk Industries in the 1st quarter worth about $1,450,000. Sei Investments Co. lifted its position in Mohawk Industries by 2,040.6% during the first quarter. Sei Investments Co. now owns 62,720 shares of the company’s stock valued at $8,209,000 after purchasing an additional 59,790 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Mohawk Industries by 20.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 61,447 shares of the company’s stock worth $8,043,000 after buying an additional 10,274 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Mohawk Industries by 0.3% in the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock worth $819,067,000 after purchasing an additional 17,541 shares during the last quarter. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Stock Performance

Shares of NYSE:MHK opened at $136.75 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.46 and a beta of 1.38. Mohawk Industries, Inc. has a 52 week low of $78.30 and a 52 week high of $164.29. The firm has a 50 day moving average of $152.80 and a 200 day moving average of $134.58.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,300 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total transaction of $347,645.00. Following the transaction, the insider now directly owns 119,369 shares in the company, valued at $18,042,624.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Suzanne L. Helen sold 2,300 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the transaction, the insider now directly owns 119,369 shares in the company, valued at $18,042,624.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Suzanne L. Helen sold 700 shares of Mohawk Industries stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the sale, the insider now owns 121,669 shares of the company’s stock, valued at approximately $17,881,692.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,660 shares of company stock valued at $550,488. 17.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MHK has been the subject of several analyst reports. Barclays reduced their price objective on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $140.00 to $160.00 in a report on Monday, October 7th. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Finally, Truist Financial cut their target price 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. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently 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.