Point72 DIFC Ltd Makes New Investment in Mohawk Industries, Inc. (NYSE:MHK)

Point72 DIFC Ltd acquired a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,277 shares of the company's stock, valued at approximately $687,000.

A number of other large investors have also recently made changes to their positions in MHK. Meeder Asset Management Inc. lifted its holdings in Mohawk Industries by 8.8% during the third quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company's stock valued at $13,583,000 after purchasing an additional 6,863 shares in the last quarter. Maverick Capital Ltd. purchased a new position in shares of Mohawk Industries during the 2nd quarter valued at $1,253,000. Thompson Siegel & Walmsley LLC boosted its holdings in Mohawk Industries by 115.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company's stock worth $10,312,000 after buying an additional 48,653 shares during the period. Natixis Advisors LLC increased its stake in Mohawk Industries by 19.8% in the 3rd quarter. Natixis Advisors LLC now owns 87,477 shares of the company's stock worth $14,056,000 after buying an additional 14,480 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Mohawk Industries by 4.5% during the second quarter. American Century Companies Inc. now owns 914,578 shares of the company's stock valued at $103,887,000 after acquiring an additional 39,653 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MHK has been the subject of several recent analyst reports. Loop Capital dropped their price target on Mohawk Industries from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Wednesday. Barclays dropped their target price on shares of Mohawk Industries from $161.00 to $146.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. Royal Bank of Canada cut their price objective on Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating for the company in a research report on Monday, October 28th. Wells Fargo & Company upgraded Mohawk Industries from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $140.00 to $160.00 in a research report on Monday, October 7th. Finally, Baird R W upgraded Mohawk Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, October 21st. Five equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $161.67.

Insider Buying and Selling at Mohawk Industries

In related 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 value of $99,963.60. Following the completion of the transaction, the insider now directly owns 118,709 shares in the company, valued at $17,979,665.14. The trade was a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 17.10% of the company's stock.

Mohawk Industries Stock Performance

MHK stock traded down $0.55 during midday trading on Friday, reaching $130.88. The stock had a trading volume of 1,042,141 shares, compared to its average volume of 721,474. The firm has a fifty day simple moving average of $145.42 and a two-hundred day simple moving average of $138.26. The stock has a market cap of $8.26 billion, a PE ratio of 14.82, a P/E/G ratio of 1.50 and a beta of 1.38. Mohawk Industries, Inc. has a 52-week low of $90.79 and a 52-week high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03.

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.