Harvest Fund Management Co. Ltd Purchases 2,843 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Harvest Fund Management Co. Ltd boosted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 593.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,322 shares of the company’s stock after acquiring an additional 2,843 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Mohawk Industries were worth $534,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Quest Partners LLC raised 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 valued at $33,000 after purchasing an additional 84 shares in the last quarter. Blue Trust Inc. increased its position in Mohawk Industries by 85.6% during the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after buying an additional 167 shares during the last quarter. Headlands Technologies LLC bought a new position in Mohawk Industries during the second quarter valued at about $50,000. Capital Performance Advisors LLP bought a new position in Mohawk Industries during the third quarter valued at about $73,000. Finally, AM Squared Ltd acquired a new stake in shares of Mohawk Industries in the second quarter worth about $68,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of the firm’s stock in a transaction dated 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 directly owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.10% of the stock is owned by insiders.

Mohawk Industries Trading Down 3.5 %

Shares of MHK opened at $139.91 on Wednesday. The stock’s 50-day moving average price is $149.22 and its 200 day moving average price is $137.57. 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 firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.53 and a beta of 1.38. Mohawk Industries, Inc. has a 12-month low of $82.71 and a 12-month high of $164.29.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MHK shares. Wells Fargo & Company raised Mohawk Industries from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $140.00 to $160.00 in a research note on Monday, October 7th. Jefferies Financial Group lifted their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Truist Financial dropped their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Barclays decreased their price target on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. 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 company. Based on data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and an average price target of $162.08.

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.