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Polar Asset Management Partners Inc. Sells 12,400 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Mohawk Industries logo with Consumer Discretionary background

Polar Asset Management Partners Inc. cut its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 62.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,500 shares of the company's stock after selling 12,400 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Mohawk Industries were worth $1,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MHK. Maven Securities LTD bought a new stake in Mohawk Industries in the third quarter valued at $209,000. HighTower Advisors LLC lifted its position in shares of Mohawk Industries by 36.6% in the 3rd quarter. HighTower Advisors LLC now owns 2,718 shares of the company's stock worth $435,000 after purchasing an additional 728 shares during the period. Holocene Advisors LP boosted its stake in shares of Mohawk Industries by 16.5% during the 3rd quarter. Holocene Advisors LP now owns 168,327 shares of the company's stock valued at $27,047,000 after purchasing an additional 23,859 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Mohawk Industries during the third quarter valued at about $401,000. Finally, Point72 Hong Kong Ltd bought a new position in Mohawk Industries in the third quarter worth about $2,414,000. 78.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Jefferies Financial Group lifted their price objective on Mohawk Industries from $150.00 to $160.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised shares of Mohawk Industries from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $140.00 to $160.00 in a research report on Monday, October 7th. Loop Capital lowered 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 report on Wednesday. Robert W. Baird upgraded shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Finally, Royal Bank of Canada reduced their price target on Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating for the company in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Mohawk Industries presently has a consensus rating of "Moderate Buy" and an average price target of $161.67.

Read Our Latest Analysis on MHK

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $135.48, for a total value of $270,960.00. Following the completion of the sale, the insider now owns 2,453 shares in the company, valued at $332,332.44. This represents a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 17.10% of the company's stock.

Mohawk Industries Stock Performance

Shares of MHK traded down $0.55 during trading hours on Friday, hitting $130.88. The stock had a trading volume of 1,042,141 shares, compared to its average volume of 721,474. Mohawk Industries, Inc. has a 12 month low of $90.79 and a 12 month high of $164.29. The stock has a fifty day moving average price of $145.98 and a 200 day moving average price of $138.18. 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 firm has a market capitalization of $8.26 billion, a PE ratio of 14.83, a PEG ratio of 1.50 and a beta of 1.38.

Mohawk Industries Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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