Meeder Asset Management Inc. Buys 6,863 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Meeder Asset Management Inc. lifted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 8.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,535 shares of the company’s stock after buying an additional 6,863 shares during the quarter. Mohawk Industries comprises 0.9% of Meeder Asset Management Inc.’s portfolio, making the stock its 28th biggest holding. Meeder Asset Management Inc. owned about 0.13% of Mohawk Industries worth $13,583,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MHK. Massachusetts Financial Services Co. MA bought a new position in shares of Mohawk Industries in the second quarter valued at about $85,997,000. Pacer Advisors Inc. raised its holdings in shares of Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after buying an additional 360,628 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after buying an additional 292,661 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Mohawk Industries by 1,464.0% in the second quarter. Victory Capital Management Inc. now owns 227,357 shares of the company’s stock valued at $25,825,000 after buying an additional 212,820 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new stake in Mohawk Industries during the 2nd quarter worth approximately $21,061,000. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Trading Down 1.3 %

Shares of Mohawk Industries stock opened at $138.47 on Tuesday. Mohawk Industries, Inc. has a 1 year low of $82.71 and a 1 year high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 1.55 and a beta of 1.38. The business has a fifty day simple moving average of $150.79 and a two-hundred day simple moving average of $136.68.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the firm’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 in the company, valued at approximately $17,979,665.14. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

MHK has been the subject of a number of research reports. Barclays lowered their target price on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their price target on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and raised their price target for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. Finally, Truist Financial decreased their price target on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Five investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.08.

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.