Mohawk Industries, Inc. (NYSE:MHK) Stock Holdings Lowered by Wallace Capital Management Inc.

Wallace Capital Management Inc. lowered its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 1.9% during the third quarter, Holdings Channel reports. The fund owned 53,969 shares of the company’s stock after selling 1,046 shares during the quarter. Mohawk Industries makes up 1.2% of Wallace Capital Management Inc.’s holdings, making the stock its 16th largest holding. Wallace Capital Management Inc.’s holdings in Mohawk Industries were worth $8,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the company. Quest Partners LLC boosted its holdings in Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after purchasing an additional 84 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Mohawk Industries during the 3rd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in Mohawk Industries during the 2nd quarter worth approximately $50,000. Blue Trust Inc. lifted its stake in 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 buying an additional 167 shares in the last quarter. Finally, True Wealth Design LLC bought a new position in Mohawk Industries in the third quarter valued at approximately $61,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MHK. Jefferies Financial Group boosted their target price 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. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price target for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $140.00 to $160.00 in a report on Monday, October 7th. Finally, Truist Financial decreased their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

Mohawk Industries Stock Performance

Shares of MHK opened at $131.39 on Friday. The stock has a 50-day moving average price of $145.98 and a 200-day moving average price of $138.18. The company has a market cap of $8.29 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38. Mohawk Industries, Inc. has a 12-month low of $90.79 and a 12-month high of $164.29. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of the 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 sale, the insider now directly owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. This represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Company 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.