Mohawk Industries, Inc. (NYSE:MHK) Stake Raised by National Bank of Canada FI

National Bank of Canada FI increased its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 82.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,984 shares of the company’s stock after purchasing an additional 12,164 shares during the quarter. National Bank of Canada FI’s holdings in Mohawk Industries were worth $4,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Quest Partners LLC raised its stake in shares of Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Mohawk Industries during the 3rd quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in shares of Mohawk Industries in the 2nd quarter worth approximately $50,000. Blue Trust Inc. boosted its holdings in shares of Mohawk Industries by 85.6% in the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after acquiring an additional 167 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Mohawk Industries during the third quarter valued at approximately $61,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

Shares of NYSE MHK opened at $130.40 on Friday. The business’s 50-day simple moving average is $143.17 and its 200-day simple moving average is $138.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries, Inc. has a 52 week low of $91.66 and a 52 week high of $164.29. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 1.45 and a beta of 1.38.

Analyst Upgrades and Downgrades

MHK has been the subject of several research analyst reports. Royal Bank of Canada cut their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Truist Financial dropped their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Barclays reduced their target price on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company upgraded 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 report on Monday, October 7th. 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 company. According to MarketBeat, Mohawk Industries presently has an average rating of “Moderate Buy” and an average target price of $161.25.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the completion of the sale, the insider now directly owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. This represents a 44.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.10% of the company’s stock.

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.