JPMorgan Chase & Co. Has $485.98 Million Position in Mohawk Industries, Inc. (NYSE:MHK)

JPMorgan Chase & Co. grew its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,024,539 shares of the company’s stock after buying an additional 74,123 shares during the quarter. JPMorgan Chase & Co. owned 4.79% of Mohawk Industries worth $485,983,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in Mohawk Industries during the second quarter valued at approximately $85,997,000. FMR LLC grew its position in Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after acquiring an additional 748,070 shares during the period. Pacer Advisors Inc. raised its stake in Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after acquiring an additional 360,628 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mohawk Industries by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after acquiring an additional 292,661 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Mohawk Industries by 1,464.0% in the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after purchasing an additional 212,820 shares in the last quarter. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Stock Performance

MHK opened at $118.82 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. The company has a market capitalization of $7.50 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.41 and a beta of 1.38. The business has a fifty day simple moving average of $135.07 and a 200 day simple moving average of $138.94. Mohawk Industries, Inc. has a 1 year low of $96.28 and a 1 year high of $164.29.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Jefferies Financial Group lifted their price objective on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their target price on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Truist Financial cut their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.17.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 4,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $126.11, for a total value of $504,440.00. Following the transaction, the insider now owns 104,084 shares in the company, valued at approximately $13,126,033.24. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 19,078 shares of company stock worth $2,474,347. Corporate 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.