Quantbot Technologies LP Boosts Stake in Mohawk Industries, Inc. (NYSE:MHK)

Quantbot Technologies LP increased its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 195.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,257 shares of the company's stock after buying an additional 38,567 shares during the quarter. Quantbot Technologies LP owned 0.09% of Mohawk Industries worth $9,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MHK. Massachusetts Financial Services Co. MA purchased a new position in shares of Mohawk Industries during the second quarter valued at approximately $85,997,000. FMR LLC boosted its stake in shares of Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company's stock valued at $350,204,000 after purchasing an additional 748,070 shares in the last quarter. Pacer Advisors Inc. raised its stake in Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company's stock worth $136,349,000 after buying an additional 360,628 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company's stock worth $344,903,000 after buying an additional 292,661 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Mohawk Industries by 1,464.0% during the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company's stock valued at $25,825,000 after acquiring an additional 212,820 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Performance

NYSE MHK traded down $5.11 during trading hours on Tuesday, hitting $139.92. 494,902 shares of the company's stock traded hands, compared to its average volume of 717,779. Mohawk Industries, Inc. has a 52 week low of $82.71 and a 52 week high of $164.29. The firm has a market capitalization of $8.83 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.53 and a beta of 1.38. 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 business's fifty day moving average price is $149.22 and its two-hundred day moving average price is $137.57.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the company'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 in the company, valued at $17,979,665.14. This represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MHK. Wells Fargo & Company upgraded Mohawk Industries from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $140.00 to $160.00 in a research note on Monday, October 7th. Royal Bank of Canada dropped their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating on the stock in a report on Monday, October 28th. Baird R W upgraded shares of Mohawk Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 21st. Truist Financial dropped their price objective on shares of Mohawk Industries from $184.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, October 28th. Finally, Jefferies Financial Group raised their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Mohawk Industries currently has a consensus 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.