Mohawk Industries, Inc. (NYSE:MHK) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,724 shares of the company’s stock after purchasing an additional 2,601 shares during the quarter. Principal Financial Group Inc. owned about 0.10% of Mohawk Industries worth $9,918,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Mohawk Industries by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock worth $819,067,000 after buying an additional 17,541 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Mohawk Industries by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after acquiring an additional 292,661 shares during the period. Select Equity Group L.P. increased its stake in Mohawk Industries by 8.5% in the 2nd quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock valued at $193,380,000 after purchasing an additional 132,879 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Mohawk Industries by 42.9% during the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after purchasing an additional 360,628 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its position in Mohawk Industries by 10.5% during the second quarter. Brandes Investment Partners LP now owns 1,015,640 shares of the company’s stock worth $115,057,000 after purchasing an additional 96,174 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

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 50 day moving average of $150.79 and a two-hundred day moving average of $136.68. The company has a market cap of $8.74 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.54 and a beta of 1.38. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. This trade represents a 0.55 % 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. Company insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

MHK has been the subject of a number of research analyst reports. Barclays dropped their price target on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $160.00 to $196.00 in a research report on Monday, October 21st. Loop Capital increased their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group raised their price objective 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. Finally, Truist Financial reduced their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.08.

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.