TriaGen Wealth Management LLC Makes New Investment in Mohawk Industries, Inc. (NYSE:MHK)

TriaGen Wealth Management LLC bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,186 shares of the company's stock, valued at approximately $512,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Mohawk Industries during the first quarter valued at $1,450,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Mohawk Industries during the 1st quarter worth $1,450,000. Sei Investments Co. grew its stake in shares of Mohawk Industries by 2,040.6% during the first quarter. Sei Investments Co. now owns 62,720 shares of the company's stock worth $8,209,000 after buying an additional 59,790 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Mohawk Industries by 48.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 302,889 shares of the company's stock worth $31,349,000 after purchasing an additional 98,920 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Mohawk Industries by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,240,136 shares of the company's stock worth $645,854,000 after buying an additional 39,143 shares during the period. Institutional investors and hedge funds own 78.98% of the company's stock.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 118,709 shares of the company's stock, valued at $17,979,665.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction 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 sale, the insider now directly owns 118,709 shares of the company's stock, valued at $17,979,665.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,415 shares of company stock valued at $673,387. 17.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MHK shares. Loop Capital lifted their price objective on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a "buy" rating in a report on Monday, July 29th. Bank of America upgraded Mohawk Industries from an "underperform" rating to a "buy" rating and increased their target price for the company from $120.00 to $177.00 in a report on Friday, July 26th. Barclays increased their price target on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Monday, July 29th. Robert W. Baird boosted their price target on Mohawk Industries from $132.00 to $160.00 and gave the stock a "neutral" rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on Mohawk Industries from $124.00 to $155.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $163.25.

Mohawk Industries Stock Up 1.2 %

NYSE:MHK traded up $1.85 on Friday, hitting $161.05. 577,449 shares of the company's stock were exchanged, compared to its average volume of 694,997. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The firm has a 50-day moving average price of $154.14 and a 200-day moving average price of $132.81. Mohawk Industries, Inc. has a 52 week low of $76.02 and a 52 week high of $164.05. The company has a market cap of $10.29 billion, a P/E ratio of -24.63, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.25. The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The firm's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.76 earnings per share. As a group, analysts expect that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

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.