BNP Paribas Financial Markets Increases Holdings in Mohawk Industries, Inc. (NYSE:MHK)

BNP Paribas Financial Markets raised its stake in Mohawk Industries, Inc. (NYSE:MHK) by 111.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,186 shares of the company’s stock after buying an additional 67,990 shares during the quarter. BNP Paribas Financial Markets’ holdings in Mohawk Industries were worth $20,758,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC raised its position in shares of Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after buying an additional 84 shares during the period. Headlands Technologies LLC purchased a new stake in Mohawk Industries in the second quarter valued at $50,000. Blue Trust Inc. lifted its stake in shares of Mohawk Industries by 85.6% in the 3rd 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 last quarter. AM Squared Ltd purchased a new position in shares of Mohawk Industries during the 2nd quarter worth $68,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Mohawk Industries during the 3rd quarter worth about $73,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Barclays decreased their price objective on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Truist Financial decreased their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Royal Bank of Canada lowered their price target on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Five equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.08.

Mohawk Industries Price Performance

MHK stock opened at $138.83 on Friday. Mohawk Industries, Inc. has a 1 year low of $86.26 and a 1 year high of $164.29. The firm has a market capitalization of $8.76 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.54 and a beta of 1.38. 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 business’s 50-day moving average is $147.82 and its two-hundred day moving average is $137.85.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. This represents a 0.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 17.10% of the stock is owned by corporate 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, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.