Franklin Resources Inc. Acquires 9,173 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Franklin Resources Inc. lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 32.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,162 shares of the company’s stock after purchasing an additional 9,173 shares during the period. Franklin Resources Inc. owned 0.06% of Mohawk Industries worth $5,878,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in shares of Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in Mohawk Industries during the third quarter worth $36,000. Headlands Technologies LLC acquired a new stake in Mohawk Industries in the second quarter worth $50,000. Wilmington Savings Fund Society FSB bought a new stake in Mohawk Industries in the third quarter valued at $55,000. Finally, Blue Trust Inc. raised 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 purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Trading Up 2.0 %

Shares of Mohawk Industries stock opened at $119.16 on Monday. The firm has a market cap of $7.52 billion, a PE ratio of 13.49, a P/E/G ratio of 1.41 and a beta of 1.38. Mohawk Industries, Inc. has a 1 year low of $96.28 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 stock has a fifty day moving average price of $139.09 and a 200-day moving average price of $139.13.

Analysts Set New Price Targets

MHK has been the subject of several research reports. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their target price for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Truist Financial decreased their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a report on Monday, October 28th. Jefferies Financial Group increased their target price on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company decreased their price target on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada dropped their price objective on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Six analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $159.17.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 4,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $126.11, for a total transaction of $504,440.00. Following the completion of the transaction, the insider now directly owns 104,084 shares of the company’s stock, valued at approximately $13,126,033.24. This represents a 3.70 % 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. Over the last 90 days, insiders sold 19,078 shares of company stock worth $2,474,347. 17.10% of the stock is owned by company insiders.

Mohawk Industries 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.