Meeder Asset Management Inc. Boosts Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Meeder Asset Management Inc. grew its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 8.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,535 shares of the company's stock after acquiring an additional 6,863 shares during the period. Mohawk Industries comprises approximately 0.9% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 28th biggest holding. Meeder Asset Management Inc. owned approximately 0.13% of Mohawk Industries worth $13,583,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MHK. Quest Partners LLC raised its stake 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. Headlands Technologies LLC bought a new stake in shares of Mohawk Industries during the second quarter valued at approximately $50,000. Blue Trust Inc. raised its stake in shares of Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company's stock valued at $58,000 after acquiring an additional 167 shares in the last quarter. AM Squared Ltd bought a new stake in shares of Mohawk Industries during the second quarter valued at approximately $68,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Mohawk Industries during the third quarter valued at approximately $73,000. Institutional investors own 78.98% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MHK. Bank of America raised shares of Mohawk Industries from an "underperform" rating to a "buy" rating and lifted their price target for the company from $120.00 to $177.00 in a research note on Friday, July 26th. Barclays reduced their price objective on shares of Mohawk Industries from $161.00 to $146.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. The Goldman Sachs Group boosted their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Wells Fargo & Company raised shares of Mohawk Industries from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Finally, Royal Bank of Canada reduced their price objective 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. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $162.08.

Mohawk Industries Stock Performance

Shares of MHK traded down $2.83 during trading hours on Tuesday, reaching $135.64. 478,081 shares of the company traded hands, compared to its average volume of 721,657. The stock has a market capitalization of $8.56 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.55 and a beta of 1.38. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12-month low of $82.71 and a 12-month high of $164.29. The business has a fifty day moving average price of $150.29 and a 200-day moving average price of $136.98.

Insider Activity

In other news, insider Suzanne L. Helen sold 660 shares of the business's stock in a transaction on Monday, September 9th. The shares were 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 of the company's stock, valued at $17,979,665.14. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.10% of the company's stock.

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.