Polar Asset Management Partners Inc. Decreases Position in Mohawk Industries, Inc. (NYSE:MHK)

Polar Asset Management Partners Inc. lowered its stake in Mohawk Industries, Inc. (NYSE:MHK) by 62.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,500 shares of the company’s stock after selling 12,400 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Mohawk Industries were worth $1,205,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC grew its position in Mohawk Industries by 40.0% in the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after acquiring an additional 84 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in Mohawk Industries during the 3rd quarter valued at $36,000. Headlands Technologies LLC purchased a new stake in Mohawk Industries during the 2nd quarter worth $50,000. Blue Trust Inc. lifted its holdings in Mohawk Industries by 85.6% in the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after buying an additional 167 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in Mohawk Industries in the 3rd quarter worth $61,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial dropped their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Loop Capital dropped their price objective on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada reduced their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Finally, Barclays cut 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 report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.67.

Insider Activity

In other news, insider Suzanne L. Helen sold 660 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the transaction, the insider now owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Price Performance

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

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.