Cerity Partners LLC Invests $1.94 Million in Mohawk Industries, Inc. (NYSE:MHK)

Cerity Partners LLC bought a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,043 shares of the company's stock, valued at approximately $1,935,000.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Mohawk Industries by 21.5% in the second quarter. GAMMA Investing LLC now owns 2,196 shares of the company's stock valued at $249,000 after buying an additional 389 shares in the last quarter. Mather Group LLC. increased its holdings in Mohawk Industries by 180.3% during the 2nd quarter. Mather Group LLC. now owns 2,346 shares of the company's stock worth $266,000 after purchasing an additional 1,509 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in shares of Mohawk Industries by 52.6% in the 2nd quarter. Contravisory Investment Management Inc. now owns 5,588 shares of the company's stock valued at $635,000 after purchasing an additional 1,925 shares during the period. Cardinal Capital Management lifted its holdings in shares of Mohawk Industries by 3.0% in the second quarter. Cardinal Capital Management now owns 10,755 shares of the company's stock valued at $1,222,000 after purchasing an additional 311 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Mohawk Industries by 276.4% during the second quarter. SG Americas Securities LLC now owns 23,793 shares of the company's stock worth $2,703,000 after buying an additional 17,471 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on MHK shares. Royal Bank of Canada cut their target price 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. Jefferies Financial Group increased their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Baird R W upgraded shares of Mohawk Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 21st. Wells Fargo & Company upgraded shares of Mohawk Industries from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Finally, Barclays lowered their target price 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. Five research 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 stock. According to data from MarketBeat.com, Mohawk Industries currently has a consensus rating of "Moderate Buy" and an average target price of $162.08.

Mohawk Industries Stock Performance

Shares of MHK stock traded down $0.92 during midday trading on Tuesday, hitting $135.42. 941,249 shares of the company were exchanged, compared to its average volume of 716,738. The firm has a market capitalization of $8.55 billion, a P/E ratio of 15.34, a PEG ratio of 1.51 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries, Inc. has a 52 week low of $90.22 and a 52 week high of $164.29. The firm's 50 day moving average price is $146.95 and its two-hundred day moving average price is $138.27.

Insider Activity

In related news, insider Suzanne L. Helen sold 660 shares of the firm's stock in a transaction on 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. This trade represents a 0.55 % 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. 17.10% of the stock is owned by company insiders.

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.