KBC Group NV Cuts Position in Mohawk Industries, Inc. (NYSE:MHK)

KBC Group NV trimmed its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 27.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,384 shares of the company’s stock after selling 2,840 shares during the quarter. KBC Group NV’s holdings in Mohawk Industries were worth $1,186,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of Mohawk Industries during the 2nd quarter valued at $85,997,000. Pacer Advisors Inc. grew its position in Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after buying an additional 360,628 shares during the period. Dimensional Fund Advisors LP increased its holdings in Mohawk Industries by 10.7% during 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. raised its position in Mohawk Industries by 1,464.0% in the second quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock worth $25,825,000 after acquiring an additional 212,820 shares during the period. Finally, Clearbridge Investments LLC purchased a new position in Mohawk Industries in the second quarter valued at about $21,061,000. 78.98% of the stock is currently owned by institutional investors.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 17.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MHK shares. Jefferies Financial Group raised their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Truist Financial decreased their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Barclays dropped their price target on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a research report 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. Finally, The Goldman Sachs Group upped their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.08.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $138.47 on Tuesday. The firm’s 50 day simple moving average is $150.79 and its 200 day simple 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 1-year low of $82.71 and a 1-year high of $164.29. The firm has a market capitalization of $8.74 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.54 and a beta of 1.38.

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.