Apollon Wealth Management LLC Invests $242,000 in Mohawk Industries, Inc. (NYSE:MHK)

Apollon Wealth Management LLC bought a new position in Mohawk Industries, Inc. (NYSE:MHK) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,506 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC purchased a new position in shares of Mohawk Industries during the first quarter valued at approximately $1,450,000. Vanguard Group Inc. lifted its holdings in shares of Mohawk Industries by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock valued at $819,067,000 after purchasing an additional 17,541 shares in the last quarter. Maverick Capital Ltd. bought a new position in Mohawk Industries in the second quarter valued at about $1,253,000. Thompson Siegel & Walmsley LLC lifted its holdings in Mohawk Industries by 115.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company’s stock valued at $10,312,000 after acquiring an additional 48,653 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Mohawk Industries by 4.5% in the second quarter. American Century Companies Inc. now owns 914,578 shares of the company’s stock valued at $103,887,000 after acquiring an additional 39,653 shares during the period. Institutional investors own 78.98% of the company’s stock.

Insider Activity

In related news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $138.47 on Tuesday. The company has a market capitalization of $8.74 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.54 and a beta of 1.38. The business’s 50 day moving average is $150.79 and its two-hundred day moving average is $136.68. 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 $82.71 and a 12-month high of $164.29.

Analysts Set New Price Targets

Several research firms have recently commented on MHK. Jefferies Financial Group raised their price objective on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Loop Capital raised their price objective on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and raised their price target for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Finally, Barclays lowered their target price on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.