Mohawk Industries, Inc. (NYSE:MHK) is Tabor Asset Management LP's Largest Position

Tabor Asset Management LP lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 10.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 87,853 shares of the company's stock after purchasing an additional 8,108 shares during the period. Mohawk Industries accounts for about 6.8% of Tabor Asset Management LP's portfolio, making the stock its largest position. Tabor Asset Management LP owned 0.14% of Mohawk Industries worth $14,116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MHK. Cardinal Capital Management raised its position in shares of Mohawk Industries by 3.0% during the second quarter. Cardinal Capital Management now owns 10,755 shares of the company's stock worth $1,222,000 after acquiring an additional 311 shares during the last quarter. SG Americas Securities LLC lifted its position in Mohawk Industries by 276.4% during the 2nd quarter. SG Americas Securities LLC now owns 23,793 shares of the company's stock valued at $2,703,000 after purchasing an additional 17,471 shares during the period. Czech National Bank boosted its stake in shares of Mohawk Industries by 8.6% in the 2nd quarter. Czech National Bank now owns 10,100 shares of the company's stock valued at $1,147,000 after purchasing an additional 802 shares during the last quarter. Manchester Financial Inc. boosted its stake in shares of Mohawk Industries by 3.3% in the 2nd quarter. Manchester Financial Inc. now owns 9,046 shares of the company's stock valued at $1,028,000 after purchasing an additional 289 shares during the last quarter. Finally, Wilsey Asset Management Inc. grew its position in shares of Mohawk Industries by 47.2% during the 2nd quarter. Wilsey Asset Management Inc. now owns 190,366 shares of the company's stock worth $21,624,000 after buying an additional 61,063 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on MHK. Truist Financial dropped their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, October 28th. Royal Bank of Canada reduced their target price 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. Robert W. Baird raised Mohawk Industries from a "neutral" rating to an "overweight" rating and upped their price target for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Wells Fargo & Company upgraded shares of Mohawk Industries from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $140.00 to $160.00 in a report on Monday, October 7th. Finally, Baird R W upgraded shares of 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 issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $161.67.

Insider Activity

In related news, insider Suzanne L. Helen sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total value of $270,960.00. Following the transaction, the insider now directly owns 2,453 shares in the company, valued at approximately $332,332.44. This represents a 44.91 % 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. Insiders own 17.10% of the company's stock.

Mohawk Industries Stock Down 0.7 %

Shares of MHK stock traded down $0.97 during trading hours on Friday, reaching $130.46. The company had a trading volume of 333,242 shares, compared to its average volume of 718,333. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38. 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 12 month low of $90.79 and a 12 month high of $164.29. The business has a fifty day simple moving average of $145.98 and a 200-day simple moving average of $138.18.

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.