Fmr LLC Raises Stake in Mohawk Industries, Inc. (NYSE:MHK)

FMR LLC lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 52.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,179,510 shares of the company's stock after acquiring an additional 748,070 shares during the period. FMR LLC owned 3.45% of Mohawk Industries worth $350,204,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MHK. Qsemble Capital Management LP acquired a new position in shares of Mohawk Industries during the third quarter valued at about $210,000. Bank of Montreal Can increased its position in Mohawk Industries by 64.6% in the 3rd quarter. Bank of Montreal Can now owns 139,867 shares of the company's stock valued at $22,212,000 after buying an additional 54,914 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in Mohawk Industries by 593.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,322 shares of the company's stock valued at $534,000 after buying an additional 2,843 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Mohawk Industries by 13.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,417 shares of the company's stock worth $388,000 after buying an additional 286 shares during the period. Finally, WESPAC Advisors LLC bought a new position in Mohawk Industries in the third quarter worth approximately $632,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MHK has been the subject of several recent research reports. Truist Financial decreased their price objective on Mohawk Industries from $184.00 to $155.00 and set a "buy" rating for the company in a report on Monday, October 28th. Royal Bank of Canada decreased their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating for the company in a research note on Monday, October 28th. Wells Fargo & Company raised shares of Mohawk Industries from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $140.00 to $160.00 in a research note on Monday, October 7th. Robert W. Baird upgraded shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $160.00 to $196.00 in a report on Monday, October 21st. Finally, Barclays lowered their target price on shares of Mohawk Industries from $161.00 to $146.00 and set an "equal weight" rating on the stock in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Mohawk Industries currently has an average rating of "Moderate Buy" and a consensus price target of $162.08.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 660 shares of the company's stock in a transaction that occurred 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 represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.10% of the company's stock.

Mohawk Industries Stock Performance

Shares of MHK stock traded down $0.27 during trading on Friday, hitting $138.83. The company's stock had a trading volume of 314,818 shares, compared to its average volume of 669,812. 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 company has a market cap of $8.76 billion, a PE ratio of 15.72, a P/E/G ratio of 1.53 and a beta of 1.38. The business has a fifty day moving average of $147.82 and a 200-day moving average of $138.06. Mohawk Industries, Inc. has a 52 week low of $86.26 and a 52 week 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.