Charles Schwab Investment Management Inc. Sells 7,223 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 538,154 shares of the company’s stock after selling 7,223 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Mohawk Industries were worth $86,471,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MHK. CANADA LIFE ASSURANCE Co boosted its holdings in Mohawk Industries by 3.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,148 shares of the company’s stock valued at $1,590,000 after acquiring an additional 405 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Mohawk Industries by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 73,755 shares of the company’s stock valued at $9,654,000 after purchasing an additional 2,112 shares during the period. Tidal Investments LLC grew its holdings in shares of Mohawk Industries by 28.1% in the first quarter. Tidal Investments LLC now owns 12,831 shares of the company’s stock worth $1,679,000 after purchasing an additional 2,816 shares during the last quarter. Swedbank AB purchased a new position in shares of Mohawk Industries in the first quarter worth $2,340,000. Finally, GAMMA Investing LLC raised its holdings in Mohawk Industries by 21.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,196 shares of the company’s stock valued at $249,000 after buying an additional 389 shares during the last quarter. 78.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction 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 sale, the insider now directly owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. This represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MHK shares. JPMorgan Chase & Co. boosted their price objective on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised Mohawk Industries from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Royal Bank of Canada cut their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Barclays decreased 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. Finally, Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $160.00 to $196.00 in a report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $162.08.

Mohawk Industries Price Performance

MHK stock opened at $139.10 on Thursday. The firm has a 50 day moving average price of $148.92 and a 200-day moving average price of $137.71. Mohawk Industries, Inc. has a 52-week low of $83.15 and a 52-week high of $164.29. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.60 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03.

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.