Franklin Resources Inc. Increases Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Franklin Resources Inc. boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 32.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,162 shares of the company’s stock after buying an additional 9,173 shares during the period. Franklin Resources Inc.’s holdings in Mohawk Industries were worth $5,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quest Partners LLC boosted its holdings in shares of Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares during the period. Mark Sheptoff Financial Planning LLC purchased a new position in Mohawk Industries during the 3rd quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in shares of Mohawk Industries during the second quarter valued at about $50,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Mohawk Industries in the third quarter worth about $55,000. Finally, Blue Trust Inc. boosted its position 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 during the period. Institutional investors own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MHK. Truist Financial decreased 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. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. StockNews.com lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barclays decreased their target price on Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Finally, Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.17.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $119.16 on Monday. The firm has a fifty day simple moving average of $139.09 and a two-hundred day simple moving average of $139.13. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a twelve month low of $96.28 and a twelve month high of $164.29. The company has a market capitalization of $7.52 billion, a PE ratio of 13.49, a P/E/G ratio of 1.41 and a beta of 1.38.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 9,078 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $130.86, for a total value of $1,187,947.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 19,078 shares of company stock worth $2,474,347. Company 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.