ARGA Investment Management LP decreased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 28.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 354,671 shares of the company's stock after selling 139,016 shares during the period. Mohawk Industries comprises about 1.9% of ARGA Investment Management LP's holdings, making the stock its 17th largest position. ARGA Investment Management LP owned approximately 0.56% of Mohawk Industries worth $56,989,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of MHK. Quest Partners LLC grew its stake in shares of Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company's stock worth $33,000 after acquiring an additional 84 shares in the last quarter. Headlands Technologies LLC bought a new stake in Mohawk Industries in the 2nd quarter worth about $50,000. Blue Trust Inc. grew its position in Mohawk Industries by 85.6% in the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company's stock worth $58,000 after purchasing an additional 167 shares in the last quarter. AM Squared Ltd purchased a new stake in Mohawk Industries in the 2nd quarter valued at about $68,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Mohawk Industries during the 3rd quarter worth approximately $73,000. Institutional investors own 78.98% of the company's stock.
In other news, insider Suzanne L. Helen sold 660 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were 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 directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.10% of the stock is owned by corporate insiders.
Shares of NYSE MHK opened at $138.83 on Friday. 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 fifty-two week low of $86.26 and a fifty-two week high of $164.29. The stock has a market cap of $8.76 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.53 and a beta of 1.38. The stock has a fifty day moving average of $147.82 and a 200-day moving average of $137.96.
A number of analysts recently commented on MHK shares. Wells Fargo & Company raised Mohawk Industries from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Royal Bank of Canada decreased their target price on Mohawk Industries from $140.00 to $134.00 and set a "sector perform" rating for the company in a research report on Monday, October 28th. Jefferies Financial Group boosted their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Barclays decreased their price objective on shares of Mohawk Industries from $161.00 to $146.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Finally, Baird R W raised shares of Mohawk Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, October 21st. Five equities 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.08.
Check Out Our Latest Stock Analysis on MHK
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.
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