Point72 Hong Kong Ltd Makes New Investment in Mohawk Industries, Inc. (NYSE:MHK)

Point72 Hong Kong Ltd bought a new position in Mohawk Industries, Inc. (NYSE:MHK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,024 shares of the company’s stock, valued at approximately $2,414,000.

A number of other large investors have also made changes to their positions in the company. Mark Sheptoff Financial Planning LLC purchased a new position in Mohawk Industries during the 3rd quarter worth approximately $36,000. Quest Partners LLC boosted its position in shares of Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares during the period. Blue Trust Inc. grew its holdings in shares of Mohawk Industries by 85.6% during 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. True Wealth Design LLC purchased a new position in shares of Mohawk Industries during the third quarter valued at $61,000. Finally, Headlands Technologies LLC acquired a new position in Mohawk Industries during the second quarter valued at $50,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analyst Ratings Changes

MHK has been the topic of several research analyst reports. Jefferies Financial Group lifted their target price on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. 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 note on Monday, October 28th. Finally, Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.08.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 660 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 118,709 shares in the company, valued at approximately $17,979,665.14. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Stock Performance

MHK opened at $138.83 on Monday. The stock has a 50-day moving average of $147.82 and a 200-day moving average of $138.06. 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 52-week low of $86.26 and a 52-week high of $164.29. The company 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.

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.