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

Point72 DIFC Ltd acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,277 shares of the company’s stock, valued at approximately $687,000.

Several other hedge funds also recently modified their holdings of MHK. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Mohawk Industries in the 3rd quarter worth approximately $36,000. Quest Partners LLC raised its stake in 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 purchasing an additional 84 shares during the period. Blue Trust Inc. raised its position in 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 during the period. True Wealth Design LLC purchased a new stake in shares of Mohawk Industries in the third quarter worth approximately $61,000. Finally, Headlands Technologies LLC purchased a new stake in Mohawk Industries in the 2nd quarter worth approximately $50,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Price Performance

Shares of MHK stock opened at $131.39 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $145.98 and its 200-day moving average is $138.18. Mohawk Industries, Inc. has a 1 year low of $90.79 and a 1 year high of $164.29. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.50 and a beta of 1.38.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total value of $270,960.00. Following the transaction, the insider now directly owns 2,453 shares in the company, valued at $332,332.44. This represents a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 17.10% of the company’s stock.

Analyst Upgrades and Downgrades

MHK has been the topic of several recent research reports. Truist Financial cut their price objective on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Royal Bank of Canada reduced their price objective 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. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Barclays decreased their price target on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Finally, Jefferies Financial Group upped their price objective on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

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.