WESPAC Advisors LLC Takes $632,000 Position in Mohawk Industries, Inc. (NYSE:MHK)

WESPAC Advisors LLC bought a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,931 shares of the company's stock, valued at approximately $632,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its position in Mohawk Industries by 8.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 84,535 shares of the company's stock valued at $13,583,000 after purchasing an additional 6,863 shares during the period. Maverick Capital Ltd. acquired a new stake in Mohawk Industries during the 2nd quarter valued at approximately $1,253,000. Thompson Siegel & Walmsley LLC increased its position in Mohawk Industries by 115.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company's stock valued at $10,312,000 after purchasing an additional 48,653 shares during the period. American Century Companies Inc. increased its position in Mohawk Industries by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 914,578 shares of the company's stock valued at $103,887,000 after purchasing an additional 39,653 shares during the period. Finally, Dimensional Fund Advisors LP increased its position 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 valued at $344,903,000 after purchasing an additional 292,661 shares during the period. Institutional investors own 78.98% of the company's stock.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the company's stock in a transaction 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 sale, the insider now directly owns 118,709 shares of the company's stock, valued at $17,979,665.14. This represents a 0.55 % decrease in their ownership of the stock. The sale 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 corporate insiders.

Analysts Set New Price Targets

MHK has been the subject of several recent analyst reports. Truist Financial reduced their price objective 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. Wells Fargo & Company raised shares of Mohawk Industries from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $140.00 to $160.00 in a research report on Monday, October 7th. Loop Capital raised their price objective on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Robert W. Baird raised shares of Mohawk Industries from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Finally, The Goldman Sachs Group lifted their price target on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $162.08.

Mohawk Industries Trading Up 0.9 %

Shares of Mohawk Industries stock traded up $1.28 during midday trading on Friday, reaching $138.77. 436,216 shares of the company's stock traded hands, compared to its average volume of 945,498. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The company has a market cap of $8.76 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.52 and a beta of 1.38. The stock has a 50 day moving average of $149.44 and a 200-day moving average of $137.39. Mohawk Industries, Inc. has a 12 month low of $82.71 and a 12 month high of $164.29.

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.