Quest Partners LLC Grows Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Quest Partners LLC raised its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 1,582.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,946 shares of the company's stock after acquiring an additional 4,652 shares during the period. Quest Partners LLC's holdings in Mohawk Industries were worth $795,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA purchased a new position in shares of Mohawk Industries in the 2nd quarter worth $85,997,000. Pacer Advisors Inc. boosted its stake in shares of Mohawk Industries by 42.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company's stock worth $136,349,000 after purchasing an additional 360,628 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Mohawk Industries by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company's stock worth $344,903,000 after purchasing an additional 292,661 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Mohawk Industries by 1,464.0% during the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company's stock worth $25,825,000 after purchasing an additional 212,820 shares during the period. Finally, Clearbridge Investments LLC purchased a new position in shares of Mohawk Industries during the 2nd quarter worth about $21,061,000. 78.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MHK shares. Wells Fargo & Company raised shares of Mohawk Industries from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Truist Financial decreased their price objective on shares of Mohawk Industries from $184.00 to $155.00 and set a "buy" rating for the company in a report on Monday, October 28th. The Goldman Sachs Group lifted their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a "buy" rating in a report on Monday, July 29th. Bank of America upgraded shares of Mohawk Industries from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $120.00 to $177.00 in a report on Friday, July 26th. Finally, Robert W. Baird upgraded shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $160.00 to $196.00 in a report on Monday, October 21st. Five research 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.com, Mohawk Industries currently has an average rating of "Moderate Buy" and a consensus price target of $162.08.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the business's 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 sale, the insider now owns 118,709 shares of the company's stock, valued at approximately $17,979,665.14. The trade was a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.10% of the stock is owned by insiders.

Mohawk Industries Stock Up 0.9 %

Shares of NYSE MHK traded up $1.28 during trading hours on Friday, hitting $138.77. 434,974 shares of the stock were exchanged, compared to its average volume of 718,454. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The company has a market cap of $8.76 billion, a PE ratio of 15.81, a PEG ratio of 1.50 and a beta of 1.38. The firm has a fifty day moving average price of $149.80 and a 200-day moving average price of $136.98. Mohawk Industries, Inc. has a 12 month low of $82.71 and a 12 month high of $164.29.

Mohawk Industries 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.