Sound Shore Management Inc CT Sells 22,911 Shares of Mohawk Industries, Inc. $MHK

Sound Shore Management Inc CT lessened its position in Mohawk Industries, Inc. (NYSE:MHK) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 661,166 shares of the company’s stock after selling 22,911 shares during the period. Mohawk Industries makes up about 2.8% of Sound Shore Management Inc CT’s investment portfolio, making the stock its 15th biggest holding. Sound Shore Management Inc CT’s holdings in Mohawk Industries were worth $85,238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Mohawk Industries in the 3rd quarter valued at $25,000. Quent Capital LLC bought a new position in Mohawk Industries during the third quarter worth about $33,000. MTM Investment Management LLC bought a new position in Mohawk Industries during the second quarter worth about $28,000. SJS Investment Consulting Inc. grew its stake in Mohawk Industries by 5,385.7% in the third quarter. SJS Investment Consulting Inc. now owns 384 shares of the company’s stock valued at $50,000 after acquiring an additional 377 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its holdings in shares of Mohawk Industries by 22.6% in the third quarter. Resona Asset Management Co. Ltd. now owns 612 shares of the company’s stock worth $78,000 after acquiring an additional 113 shares in the last quarter. 78.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 3,500 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $110.36, for a total transaction of $386,260.00. Following the transaction, the insider directly owned 70,593 shares in the company, valued at approximately $7,790,643.48. The trade was a 4.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 14,485 shares of company stock valued at $1,604,006 over the last three months. 17.40% of the stock is currently owned by company insiders.

Mohawk Industries Stock Down 1.4%

MHK stock opened at $135.04 on Thursday. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 3.81 and a beta of 1.23. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $143.13. The business has a 50 day moving average price of $116.77 and a two-hundred day moving average price of $120.68. The company has a quick ratio of 1.24, a current ratio of 2.25 and a debt-to-equity ratio of 0.21.

Wall Street Analyst Weigh In

MHK has been the subject of several research analyst reports. Wall Street Zen lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Wells Fargo & Company lifted their price target on shares of Mohawk Industries from $110.00 to $125.00 and gave the company a “cautious” rating in a research note on Wednesday. Barclays set a $121.00 price objective on shares of Mohawk Industries in a research report on Monday, December 8th. Jefferies Financial Group cut their price objective on shares of Mohawk Industries from $134.00 to $128.00 and set a “hold” rating on the stock in a research report on Monday, December 15th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $150.00 target price (up from $140.00) on shares of Mohawk Industries in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Mohawk Industries has a consensus rating of “Hold” and a consensus price target of $129.78.

Mohawk Industries Profile

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.