Meeder Asset Management Inc. Acquires 6,863 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Meeder Asset Management Inc. raised its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 8.8% during the third quarter, HoldingsChannel.com reports. The fund owned 84,535 shares of the company’s stock after purchasing an additional 6,863 shares during the period. Mohawk Industries makes up about 0.9% of Meeder Asset Management Inc.’s holdings, making the stock its 28th biggest holding. Meeder Asset Management Inc.’s holdings in Mohawk Industries were worth $13,583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC bought a new position in Mohawk Industries in the first quarter valued at about $1,450,000. Vanguard Group Inc. boosted its stake in shares of Mohawk Industries by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock valued at $819,067,000 after purchasing an additional 17,541 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Mohawk Industries during the second quarter valued at about $1,253,000. Thompson Siegel & Walmsley LLC boosted its stake in shares of Mohawk Industries by 115.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company’s stock valued at $10,312,000 after purchasing an additional 48,653 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Mohawk Industries by 4.5% during the second quarter. American Century Companies Inc. now owns 914,578 shares of the company’s stock valued at $103,887,000 after purchasing an additional 39,653 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,300 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the transaction, the insider now directly owns 119,369 shares of the company’s stock, valued at approximately $18,042,624.35. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.10% of the company’s stock.

Mohawk Industries Price Performance

Shares of MHK opened at $138.47 on Tuesday. Mohawk Industries, Inc. has a 52-week low of $82.71 and a 52-week high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The business’s 50 day moving average price is $150.79 and its two-hundred day moving average price is $136.68. The firm has a market cap of $8.74 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MHK shares. Wells Fargo & Company raised Mohawk Industries from an “underweight” rating to an “equal weight” rating and lifted their price target 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 Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America raised Mohawk Industries from an “underperform” rating to a “buy” rating and lifted their price target for the company from $120.00 to $177.00 in a research note on Friday, July 26th. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Finally, The Goldman Sachs Group lifted their price target on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.08.

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.