Empowered Funds LLC Has $366,000 Position in Mohawk Industries, Inc. (NYSE:MHK)

Empowered Funds LLC trimmed its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 29.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,276 shares of the company’s stock after selling 938 shares during the period. Empowered Funds LLC’s holdings in Mohawk Industries were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. CIBC Asset Management Inc lifted its holdings in shares of Mohawk Industries by 7.0% in the third quarter. CIBC Asset Management Inc now owns 7,626 shares of the company’s stock valued at $1,225,000 after purchasing an additional 497 shares in the last quarter. ING Groep NV purchased a new position in Mohawk Industries during the 3rd quarter worth $644,000. Oppenheimer & Co. Inc. bought a new stake in shares of Mohawk Industries in the 3rd quarter worth $230,000. MQS Management LLC purchased a new stake in shares of Mohawk Industries in the third quarter valued at about $341,000. Finally, Aigen Investment Management LP bought a new position in shares of Mohawk Industries during the third quarter valued at about $491,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Stock Up 4.5 %

Mohawk Industries stock opened at $145.05 on Tuesday. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 1.53 and a beta of 1.38. The firm has a 50 day simple moving average of $149.44 and a 200 day simple moving average of $137.39. Mohawk Industries, Inc. has a 1-year low of $82.71 and a 1-year 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.

Insiders Place Their Bets

In other news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries 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 transaction, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. The trade was a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

MHK has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Truist Financial cut their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company raised Mohawk Industries from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Finally, Royal Bank of Canada cut their price target on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Mohawk Industries currently 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.