Empowered Funds LLC Reduces Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Empowered Funds LLC cut its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 29.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,276 shares of the company’s stock after selling 938 shares during the period. Empowered Funds LLC’s holdings in Mohawk Industries were worth $366,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Mohawk Industries in the 2nd quarter worth approximately $85,997,000. Pacer Advisors Inc. lifted its holdings in Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after acquiring an additional 360,628 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after buying an additional 292,661 shares during the last quarter. Victory Capital Management Inc. increased its holdings in 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 last quarter. Finally, Clearbridge Investments LLC bought a new position in Mohawk Industries in the second quarter worth approximately $21,061,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Stock Up 4.5 %

Shares of MHK stock opened at $145.05 on Tuesday. The stock has a market cap of $9.16 billion, a P/E ratio of 16.42, a PEG ratio of 1.53 and a beta of 1.38. The company’s fifty day simple moving average is $149.44 and its two-hundred day simple moving average is $137.39. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 52 week low of $82.71 and a 52 week high of $164.29.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction 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 of the company’s stock, valued at $17,979,665.14. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 17.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MHK. Royal Bank of Canada cut their price objective on shares of 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. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Truist Financial cut their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Five investment 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.08.

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.