Citigroup Inc. Boosts Position in Mohawk Industries, Inc. (NYSE:MHK)

Citigroup Inc. boosted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 43.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,251 shares of the company's stock after acquiring an additional 20,167 shares during the period. Citigroup Inc. owned 0.10% of Mohawk Industries worth $10,645,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of Mohawk Industries by 3.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 12,148 shares of the company's stock valued at $1,590,000 after acquiring an additional 405 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Mohawk Industries by 2.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,755 shares of the company's stock valued at $9,654,000 after purchasing an additional 2,112 shares in the last quarter. Tidal Investments LLC raised its holdings in Mohawk Industries by 28.1% in the first quarter. Tidal Investments LLC now owns 12,831 shares of the company's stock worth $1,679,000 after buying an additional 2,816 shares during the last quarter. Swedbank AB bought a new position in shares of Mohawk Industries in the first quarter worth approximately $2,340,000. Finally, GAMMA Investing LLC grew its holdings in shares of Mohawk Industries by 21.5% during 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 during the last quarter. Institutional investors own 78.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Mohawk Industries from $124.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Truist Financial dropped their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, October 28th. Robert W. Baird raised shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $160.00 to $196.00 in a report on Monday, October 21st. Wells Fargo & Company raised Mohawk Industries from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $140.00 to $160.00 in a report on Monday, October 7th. Finally, Jefferies Financial Group lifted their price objective on Mohawk Industries from $150.00 to $160.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Mohawk Industries presently has an average rating of "Moderate Buy" and an average target price of $162.08.

Mohawk Industries Stock Performance

Mohawk Industries stock traded down $0.27 during trading hours on Friday, hitting $138.83. 314,817 shares of the stock traded hands, compared to its average volume of 714,673. Mohawk Industries, Inc. has a 1 year low of $86.26 and a 1 year high of $164.29. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.54 and a beta of 1.38. 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 firm's 50 day moving average price is $148.19 and its 200-day moving average price is $137.73.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the transaction, the insider now directly owns 118,709 shares of the company's stock, valued at approximately $17,979,665.14. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.10% of the stock is owned by corporate insiders.

Mohawk Industries Company 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.