New York Life Investment Management LLC Acquires 2,985 Shares of Mohawk Industries, Inc. (NYSE:MHK)

New York Life Investment Management LLC grew its stake in shares of Mohawk Industries, Inc. (NYSE:MHKFree Report) by 29.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,000 shares of the company’s stock after buying an additional 2,985 shares during the quarter. New York Life Investment Management LLC’s holdings in Mohawk Industries were worth $1,116,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MHK. Vanguard Group Inc. grew its position in shares of Mohawk Industries by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,033,272 shares of the company’s stock worth $550,173,000 after buying an additional 112,111 shares during the last quarter. BlackRock Inc. raised its holdings in Mohawk Industries by 0.8% in the 1st quarter. BlackRock Inc. now owns 4,362,231 shares of the company’s stock worth $541,788,000 after purchasing an additional 35,043 shares in the last quarter. Boston Partners lifted its position in shares of Mohawk Industries by 11.7% in the 2nd quarter. Boston Partners now owns 2,916,496 shares of the company’s stock worth $301,090,000 after purchasing an additional 306,022 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Mohawk Industries by 6.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,331,470 shares of the company’s stock valued at $240,514,000 after purchasing an additional 135,157 shares in the last quarter. Finally, State Street Corp increased its position in shares of Mohawk Industries by 4.1% during the second quarter. State Street Corp now owns 2,094,203 shares of the company’s stock valued at $216,038,000 after buying an additional 83,172 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Mohawk Industries Price Performance

MHK stock opened at $108.96 on Thursday. The firm has a market capitalization of $6.94 billion, a P/E ratio of -12.70 and a beta of 1.31. Mohawk Industries, Inc. has a 52 week low of $76.02 and a 52 week high of $123.94. The company has a fifty day simple moving average of $101.16 and a two-hundred day simple moving average of $94.52. The company has a quick ratio of 0.94, a current ratio of 1.73 and a debt-to-equity ratio of 0.23.

Analyst Ratings Changes

A number of research analysts have recently commented on MHK shares. Truist Financial lowered their target price on Mohawk Industries from $130.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. Barclays raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $80.00 to $100.00 in a research report on Wednesday, December 13th. The Goldman Sachs Group lifted their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Jefferies Financial Group cut their price objective on shares of Mohawk Industries from $118.00 to $93.00 in a report on Thursday, October 12th. Finally, TheStreet lowered Mohawk Industries from a “c-” rating to a “d+” rating in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Mohawk Industries has a consensus rating of “Hold” and an average target price of $106.67.

Check Out Our Latest Stock Report on Mohawk Industries

Insider Activity at Mohawk Industries

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $86.34, for a total transaction of $2,158,500.00. Following the completion of the transaction, the chief executive officer now owns 14,200 shares in the company, valued at $1,226,028. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jeffrey S. Lorberbaum sold 25,000 shares of Mohawk Industries stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $86.34, for a total transaction of $2,158,500.00. Following the completion of the sale, the chief executive officer now directly owns 14,200 shares in the company, valued at $1,226,028. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 5,500 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $94.09, for a total transaction of $517,495.00. Following the completion of the sale, the insider now directly owns 8,953 shares of the company’s stock, valued at $842,387.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,779 shares of company stock worth $2,699,406. Insiders own 17.20% of the company’s stock.

Mohawk Industries Profile

(Free Report)

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, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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