Point72 Hong Kong Ltd Invests $2.41 Million in Mohawk Industries, Inc. (NYSE:MHK)

Point72 Hong Kong Ltd purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,024 shares of the company's stock, valued at approximately $2,414,000.

A number of other institutional investors have also recently added to or reduced their stakes in MHK. Quest Partners LLC boosted its position in shares of Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company's stock worth $33,000 after buying an additional 84 shares during the period. Mark Sheptoff Financial Planning LLC bought a new position in Mohawk Industries during the 3rd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in Mohawk Industries during the 2nd quarter worth approximately $50,000. Blue Trust Inc. lifted its holdings in 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 bought a new stake in shares of Mohawk Industries in the 3rd quarter worth approximately $61,000. Hedge funds and other institutional investors own 78.98% of the company's stock.

Insider Transactions at Mohawk Industries

In related news, 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 transaction of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares of the company's stock, valued at approximately $17,979,665.14. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.10% of the stock is currently owned by insiders.

Mohawk Industries Price Performance

Shares of MHK traded down $1.49 during trading hours on Monday, hitting $137.34. 328,016 shares of the company were exchanged, compared to its average volume of 712,760. The company has a market capitalization of $8.67 billion, a PE ratio of 15.55, a PEG ratio of 1.53 and a beta of 1.38. The firm has a fifty day simple moving average of $147.82 and a 200-day simple moving average of $138.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. Mohawk Industries, Inc. has a one year low of $90.22 and a one year high of $164.29.

Analyst Ratings Changes

Several brokerages recently issued reports on MHK. Robert W. Baird raised Mohawk Industries from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Jefferies Financial Group raised their price target on Mohawk Industries from $150.00 to $160.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Royal Bank of Canada cut their price target on Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating on the stock in a report on Monday, October 28th. Truist Financial cut their price target on Mohawk Industries from $184.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, October 28th. Finally, Baird R W upgraded Mohawk Industries from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 21st. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $162.08.

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.