Atom Investors LP Trims Stake in Mohawk Industries, Inc. (NYSE:MHK)

Atom Investors LP lessened its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 31.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,645 shares of the company's stock after selling 13,816 shares during the quarter. Atom Investors LP's holdings in Mohawk Industries were worth $4,924,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quest Partners LLC raised its position in shares of Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company's stock worth $33,000 after acquiring an additional 84 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in Mohawk Industries in the third quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in Mohawk Industries during the second quarter worth approximately $50,000. Blue Trust Inc. lifted its position in shares of Mohawk Industries by 85.6% during the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company's stock worth $58,000 after buying an additional 167 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at $61,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on MHK shares. Robert W. Baird upgraded shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Wells Fargo & Company raised Mohawk Industries from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $140.00 to $160.00 in a report on Monday, October 7th. Truist Financial dropped their price target on 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 Mohawk Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group increased their price objective on Mohawk Industries from $150.00 to $160.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $162.08.

Insider Activity

In related news, insider Suzanne L. Helen sold 660 shares of the firm'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 completion of the transaction, the insider now directly owns 118,709 shares of the company's stock, valued at $17,979,665.14. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 17.10% of the company's stock.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock traded down $2.50 on Monday, reaching $136.33. 968,964 shares of the stock were exchanged, compared to its average volume of 715,769. 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 firm has a market capitalization of $8.61 billion, a PE ratio of 15.55, a PEG ratio of 1.53 and a beta of 1.38. Mohawk Industries, Inc. has a 1-year low of $90.22 and a 1-year high of $164.29. The business has a fifty day moving average price of $147.82 and a two-hundred day moving average price of $138.06.

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.