MQS Management LLC Makes New $341,000 Investment in Mohawk Industries, Inc. (NYSE:MHK)

MQS Management LLC acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,122 shares of the company’s stock, valued at approximately $341,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp lifted its stake in shares of Mohawk Industries by 0.9% during the first quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company’s stock worth $1,430,000 after purchasing an additional 98 shares in the last quarter. Sei Investments Co. raised its stake in Mohawk Industries by 2,040.6% during the first quarter. Sei Investments Co. now owns 62,720 shares of the company’s stock worth $8,209,000 after acquiring an additional 59,790 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Mohawk Industries by 20.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 61,447 shares of the company’s stock worth $8,043,000 after purchasing an additional 10,274 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Mohawk Industries by 71.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 41,244 shares of the company’s stock valued at $5,398,000 after acquiring an additional 17,197 shares during the period. Finally, Blair William & Co. IL grew its position in Mohawk Industries by 18.9% in the 1st quarter. Blair William & Co. IL now owns 5,916 shares of the company’s stock worth $774,000 after purchasing an additional 939 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MHK shares. Loop Capital raised their price target on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. increased their price target on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and increased their price target for the stock from $120.00 to $177.00 in a research report on Friday, July 26th. Finally, The Goldman Sachs Group boosted their target price on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.08.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 118,709 shares of the company’s stock, valued at $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 available at this link. Insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Down 0.8 %

Shares of MHK stock opened at $140.34 on Friday. Mohawk Industries, Inc. has a 12 month low of $82.71 and a 12 month high of $164.29. The stock has a 50 day moving average of $150.94 and a 200-day moving average of $136.23. The firm has a market cap of $8.86 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.56 and a beta of 1.38. 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 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.