Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in Mohawk Industries, Inc. (NYSE:MHK) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,626 shares of the company’s stock after purchasing an additional 497 shares during the period. CIBC Asset Management Inc’s holdings in Mohawk Industries were worth $1,225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Quest Partners LLC increased its stake in Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Mohawk Industries during the 2nd quarter worth about $50,000. Blue Trust Inc. boosted its stake in shares of Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares during the last quarter. AM Squared Ltd acquired a new position in shares of Mohawk Industries in the second quarter valued at approximately $68,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Mohawk Industries in the third quarter valued at approximately $73,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MHK. Truist Financial lowered their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Barclays decreased their price target on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their target price for the company from $120.00 to $177.00 in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.08.

Mohawk Industries Stock Up 0.1 %

NYSE MHK opened at $135.73 on Thursday. The stock has a market cap of $8.57 billion, a PE ratio of 15.37, a P/E/G ratio of 1.55 and a beta of 1.38. The business has a 50 day moving average price of $150.04 and a two-hundred day moving average price of $136.97. Mohawk Industries, Inc. has a fifty-two week low of $82.71 and a fifty-two week high of $164.29. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22.

Insider Activity at Mohawk Industries

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

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.