Versant Capital Management Inc Increases Stake in Mohawk Industries, Inc. (NYSE:MHK)

Versant Capital Management Inc grew its position in Mohawk Industries, Inc. (NYSE:MHK) by 71.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 537 shares of the company’s stock after purchasing an additional 223 shares during the quarter. Versant Capital Management Inc’s holdings in Mohawk Industries were worth $64,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC increased its position in shares of Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after acquiring an additional 84 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Mohawk Industries in the third quarter worth $36,000. Headlands Technologies LLC bought a new position in shares of Mohawk Industries during the second quarter valued at $50,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Mohawk Industries during the third quarter valued at $55,000. Finally, Blue Trust Inc. increased its holdings in Mohawk Industries by 85.6% in the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after buying an additional 167 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

Insider Activity

In related news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 19,078 shares of company stock worth $2,474,347 over the last 90 days. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Performance

MHK opened at $117.31 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.41 and a beta of 1.41. The company has a fifty day moving average of $131.90 and a 200 day moving average of $139.29. Mohawk Industries, Inc. has a fifty-two week low of $96.28 and a fifty-two week high of $164.29.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada reduced their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. StockNews.com cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Truist Financial reduced 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, Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $160.00 to $196.00 in a research report on Monday, October 21st. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.17.

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.