Massachusetts Financial Services Co. MA Has $162.59 Million Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Massachusetts Financial Services Co. MA raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 33.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,011,861 shares of the company’s stock after buying an additional 254,779 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Mohawk Industries were worth $162,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MHK. Signaturefd LLC raised its holdings in shares of Mohawk Industries by 12.5% in the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock valued at $110,000 after buying an additional 76 shares during the last quarter. Quest Partners LLC increased its position in Mohawk Industries by 40.0% in the 2nd 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. State of Michigan Retirement System raised its stake in shares of Mohawk Industries by 0.7% in the second quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock worth $1,652,000 after acquiring an additional 100 shares during the last quarter. Allworth Financial LP lifted its position in shares of Mohawk Industries by 20.6% during the third quarter. Allworth Financial LP now owns 626 shares of the company’s stock worth $101,000 after purchasing an additional 107 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Mohawk Industries by 3.9% during the third quarter. US Bancorp DE now owns 3,920 shares of the company’s stock worth $630,000 after purchasing an additional 146 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MHK. Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $140.00 to $160.00 in a research report on Monday, October 7th. The Goldman Sachs Group upped 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. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Barclays cut their target price on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $162.08.

Mohawk Industries Price Performance

MHK opened at $138.77 on Friday. The stock has a market cap of $8.76 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.52 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. 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 has a fifty day simple moving average of $149.44 and a 200 day simple moving average of $137.12.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of the company’s 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 completion of the transaction, the insider now owns 118,709 shares in the company, valued at $17,979,665.14. This represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.10% of the company’s stock.

About Mohawk Industries

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.