Weiss Asset Management LP Buys New Position in Mohawk Industries, Inc. (NYSE:MHK)

Weiss Asset Management LP bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,151 shares of the company's stock, valued at approximately $1,631,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in 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 in the last quarter. FMR LLC boosted its position in shares of Mohawk Industries by 52.3% during the third quarter. FMR LLC now owns 2,179,510 shares of the company's stock valued at $350,204,000 after buying an additional 748,070 shares during the last quarter. State Street Corp grew its holdings in Mohawk Industries by 1.3% during the third quarter. State Street Corp now owns 1,846,446 shares of the company's stock worth $296,687,000 after buying an additional 23,016 shares in the last quarter. Select Equity Group L.P. raised its position in Mohawk Industries by 8.5% in the 2nd quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company's stock valued at $193,380,000 after buying an additional 132,879 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Mohawk Industries by 42.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company's stock valued at $136,349,000 after acquiring an additional 360,628 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Stock Performance

Shares of NYSE:MHK traded down $0.51 during trading on Friday, hitting $130.92. 1,042,356 shares of the company were exchanged, compared to its average volume of 629,039. The company has a market cap of $8.26 billion, a PE ratio of 14.83, a P/E/G ratio of 1.45 and a beta of 1.38. Mohawk Industries, Inc. has a 52-week low of $90.79 and a 52-week high of $164.29. 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 stock has a 50 day moving average of $145.42 and a 200 day moving average of $138.39.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 660 shares of the company'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. This represents a 0.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MHK has been the subject of several recent analyst reports. Barclays reduced their target price on shares of Mohawk Industries from $161.00 to $146.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. Robert W. Baird raised shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Loop Capital decreased their price target on Mohawk Industries from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Wednesday. Royal Bank of Canada cut their price objective on Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating on the stock in a research report on Monday, October 28th. Finally, Truist Financial decreased their target price on Mohawk Industries from $184.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $161.67.

About Mohawk Industries

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.