Point72 Hong Kong Ltd Makes New $2.41 Million Investment in Mohawk Industries, Inc. (NYSE:MHK)

Point72 Hong Kong Ltd acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the 3rd quarter, Holdings Channel reports. The firm acquired 15,024 shares of the company’s stock, valued at approximately $2,414,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Mohawk Industries by 2.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,755 shares of the company’s stock valued at $9,654,000 after purchasing an additional 2,112 shares during the period. Swedbank AB acquired a new position in shares of Mohawk Industries during the first quarter valued at about $2,340,000. GAMMA Investing LLC lifted its stake in shares of Mohawk Industries by 21.5% in the second quarter. GAMMA Investing LLC now owns 2,196 shares of the company’s stock valued at $249,000 after buying an additional 389 shares during the period. Mather Group LLC. grew its position in Mohawk Industries by 180.3% during the second quarter. Mather Group LLC. now owns 2,346 shares of the company’s stock worth $266,000 after buying an additional 1,509 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Mohawk Industries by 287.4% during the second quarter. Harbor Capital Advisors Inc. now owns 61,263 shares of the company’s stock valued at $6,959,000 after acquiring an additional 45,451 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

MHK has been the topic of several recent research reports. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $160.00 to $196.00 in a report on Monday, October 21st. Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $140.00 to $160.00 in a research note on Monday, October 7th. Barclays decreased their target price on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, Jefferies Financial Group increased their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Five investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.08.

Mohawk Industries Stock Performance

NYSE MHK opened at $138.83 on Monday. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 15.72, a PEG 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. Mohawk Industries, Inc. has a 1-year low of $86.26 and a 1-year high of $164.29. The company has a 50 day moving average of $147.82 and a 200-day moving average of $138.06.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the business’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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.10% of the company’s stock.

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.