Swiss National Bank Lowers Stake in Mohawk Industries, Inc. (NYSE:MHK)

Swiss National Bank lessened its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,000 shares of the company’s stock after selling 500 shares during the period. Swiss National Bank owned approximately 0.17% of Mohawk Industries worth $17,032,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Chesapeake Capital Corp IL boosted its position in shares of Mohawk Industries by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 3,300 shares of the company’s stock worth $524,000 after buying an additional 720 shares during the period. Natixis Advisors LLC boosted its position in shares of Mohawk Industries by 19.8% in the third quarter. Natixis Advisors LLC now owns 87,477 shares of the company’s stock worth $14,056,000 after buying an additional 14,480 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Mohawk Industries in the third quarter worth about $249,000. CIBC Asset Management Inc boosted its position in shares of Mohawk Industries by 7.0% in the third quarter. CIBC Asset Management Inc now owns 7,626 shares of the company’s stock worth $1,225,000 after buying an additional 497 shares during the period. Finally, ING Groep NV purchased a new stake in shares of Mohawk Industries in the third quarter worth about $644,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the sale, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. This represents a 0.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Wells Fargo & Company upgraded Mohawk Industries from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Truist Financial cut their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. 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 note on Monday, October 28th. Finally, Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and upped their price objective for the company from $120.00 to $177.00 in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating, seven have issued 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 target price of $162.08.

Mohawk Industries Stock Up 0.9 %

Shares of Mohawk Industries stock opened at $138.77 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $149.80 and its 200-day simple moving average is $136.98. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.50 and a beta of 1.38. Mohawk Industries, Inc. has a twelve month low of $82.71 and a twelve month high of $164.29.

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.