Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 18.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,425 shares of the company’s stock after purchasing an additional 6,330 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.07% of Mohawk Industries worth $4,152,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Mohawk Industries by 1.9% during the third 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 stake in shares of Mohawk Industries by 0.8% during the first quarter. BlackRock Inc. now owns 4,362,231 shares of the company’s stock worth $541,788,000 after buying an additional 35,043 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Mohawk Industries by 1.1% during the fourth quarter. JPMorgan Chase & Co. now owns 2,242,650 shares of the company’s stock worth $229,243,000 after buying an additional 25,255 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Mohawk Industries by 0.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,744,679 shares of the company’s stock worth $178,341,000 after buying an additional 4,710 shares during the last quarter. Finally, Ariel Investments LLC raised its stake in shares of Mohawk Industries by 26.8% during the first quarter. Ariel Investments LLC now owns 1,723,343 shares of the company’s stock worth $214,040,000 after buying an additional 364,085 shares during the last quarter. 75.55% of the stock is owned by institutional investors.
Mohawk Industries Stock Down 0.6 %
Mohawk Industries stock opened at $102.48 on Friday. The company has a market cap of $6.53 billion, a P/E ratio of -20.33 and a beta of 1.32. Mohawk Industries, Inc. has a 1-year low of $87.01 and a 1-year high of $130.63. The company has a fifty day simple moving average of $104.73 and a 200 day simple moving average of $103.34. The company has a current ratio of 1.78, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.
Analysts Set New Price Targets
MHK has been the subject of several recent analyst reports. StockNews.com assumed coverage on shares of Mohawk Industries in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Barclays cut their target price on shares of Mohawk Industries from $105.00 to $98.00 and set an “underweight” rating on the stock in a report on Tuesday, August 1st. Jefferies Financial Group increased their target price on shares of Mohawk Industries from $115.00 to $118.00 and gave the stock a “hold” rating in a report on Thursday, July 13th. Bank of America dropped their price objective on shares of Mohawk Industries from $110.00 to $108.00 and set an “underperform” rating on the stock in a report on Wednesday, April 19th. Finally, Loop Capital raised their price objective on shares of Mohawk Industries from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $114.71.
Get Our Latest Stock Analysis on Mohawk Industries
Insider Activity at Mohawk Industries
In other news, VP Rodney David Patton sold 2,600 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $106.76, for a total transaction of $277,576.00. Following the completion of the sale, the vice president now owns 14,487 shares in the company, valued at approximately $1,546,632.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 17.20% of the stock is owned by insiders.
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, 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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