MML Investors Services LLC Acquires Shares of 6,708 Mohawk Industries, Inc. (NYSE:MHK)

MML Investors Services LLC acquired a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,708 shares of the company's stock, valued at approximately $1,078,000.

A number of other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Mohawk Industries during the second quarter worth $85,997,000. FMR LLC raised its holdings in Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company's stock worth $350,204,000 after buying an additional 748,070 shares during the period. Pacer Advisors Inc. lifted its stake in Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company's stock valued at $136,349,000 after buying an additional 360,628 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company's stock valued at $344,903,000 after buying an additional 292,661 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Mohawk Industries by 1,464.0% during the second quarter. Victory Capital Management Inc. now owns 227,357 shares of the company's stock worth $25,825,000 after acquiring an additional 212,820 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $126.11, for a total transaction of $504,440.00. Following the completion of the sale, the insider now directly owns 104,084 shares in the company, valued at $13,126,033.24. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 19,078 shares of company stock valued at $2,474,347. Insiders own 17.10% of the company's stock.

Mohawk Industries Price Performance

MHK stock traded up $2.34 during midday trading on Friday, reaching $119.16. 1,628,017 shares of the stock were exchanged, compared to its average volume of 721,191. 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 stock has a market capitalization of $7.52 billion, a PE ratio of 13.49, a P/E/G ratio of 1.45 and a beta of 1.38. Mohawk Industries, Inc. has a 52 week low of $96.28 and a 52 week high of $164.29. The company has a fifty day moving average price of $139.85 and a 200 day moving average price of $138.83.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Loop Capital decreased their price target on shares of Mohawk Industries from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Wednesday, December 4th. Truist Financial lowered their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, October 28th. 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 dropped their target price on Mohawk Industries from $140.00 to $135.00 and set an "equal weight" rating on the stock in a report on Tuesday. Finally, StockNews.com downgraded Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Mohawk Industries presently has an average rating of "Moderate Buy" and an average price target of $159.17.

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.