M&T Bank Corp Has $565,000 Position in Mohawk Industries, Inc. (NYSE:MHK)

M&T Bank Corp raised its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 9.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,517 shares of the company’s stock after buying an additional 293 shares during the period. M&T Bank Corp’s holdings in Mohawk Industries were worth $565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MHK. Mark Sheptoff Financial Planning LLC acquired a new position in Mohawk Industries in the 3rd quarter valued at about $36,000. Quest Partners LLC increased its position in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after buying an additional 84 shares during the period. Blue Trust Inc. lifted its holdings in shares of 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 in the last quarter. True Wealth Design LLC bought a new stake in shares of Mohawk Industries in the third quarter valued at about $61,000. Finally, Headlands Technologies LLC acquired a new position in shares of Mohawk Industries in the second quarter valued at about $50,000. 78.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MHK has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Truist Financial cut their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Royal Bank of Canada dropped their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company dropped their price target on Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.17.

Mohawk Industries Stock Performance

NYSE MHK opened at $124.70 on Wednesday. The firm’s fifty day moving average price is $142.06 and its two-hundred day moving average price is $139.11. The stock has a market cap of $7.87 billion, a PE ratio of 14.12, a PEG ratio of 1.45 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries, Inc. has a fifty-two week low of $96.28 and a fifty-two week high of $164.29.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 2,000 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total transaction of $270,960.00. Following the sale, the insider now directly owns 2,453 shares in the company, valued at $332,332.44. This trade represents a 44.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 19,078 shares of company stock worth $2,474,347 in the last 90 days. Insiders own 17.10% of the company’s stock.

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.