Aigen Investment Management LP Buys New Position in Mohawk Industries, Inc. (NYSE:MHK)

Aigen Investment Management LP purchased a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 3rd quarter, HoldingsChannel reports. The firm purchased 3,058 shares of the company’s stock, valued at approximately $491,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MHK. Apollon Wealth Management LLC bought a new position in Mohawk Industries during the third quarter worth $242,000. Versor Investments LP bought a new stake in Mohawk Industries in the third quarter worth approximately $273,000. Venturi Wealth Management LLC lifted its stake in Mohawk Industries by 9.4% in the third quarter. Venturi Wealth Management LLC now owns 2,885 shares of the company’s stock valued at $464,000 after buying an additional 248 shares during the period. GDS Wealth Management bought a new position in shares of Mohawk Industries during the 3rd quarter worth approximately $212,000. Finally, River Global Investors LLP grew its position in shares of Mohawk Industries by 11.8% during the 3rd quarter. River Global Investors LLP now owns 24,316 shares of the company’s stock worth $3,906,000 after buying an additional 2,573 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

Shares of MHK opened at $140.34 on Friday. The stock has a 50 day moving average of $150.94 and a 200 day moving average of $136.23. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.56 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 current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22.

Analyst Upgrades and Downgrades

MHK has been the topic of several research analyst reports. The Goldman Sachs Group increased their target price on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Baird R W upgraded Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Barclays cut their target price on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the company from $160.00 to $196.00 in a research report on Monday, October 21st. Finally, Bank of America upgraded 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. Five research 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. Based on data from MarketBeat, Mohawk Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.08.

Insider Activity

In related news, insider Suzanne L. Helen sold 2,300 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the completion of the transaction, the insider now owns 119,369 shares in the company, valued at approximately $18,042,624.35. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 17.10% of the company’s stock.

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.