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

Principal Financial Group Inc. boosted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,724 shares of the company’s stock after acquiring an additional 2,601 shares during the period. Principal Financial Group Inc. owned 0.10% of Mohawk Industries worth $9,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MHK. Dimensional Fund Advisors LP grew its position in shares of Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after purchasing an additional 292,661 shares during the last quarter. FMR LLC grew its holdings in Mohawk Industries by 52.3% during the 3rd quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after buying an additional 748,070 shares during the last quarter. State Street Corp increased its position in Mohawk Industries by 1.3% during the third quarter. State Street Corp now owns 1,846,446 shares of the company’s stock worth $296,687,000 after buying an additional 23,016 shares in the last quarter. Select Equity Group L.P. raised its holdings in shares of Mohawk Industries by 8.5% in the second quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock worth $193,380,000 after acquiring an additional 132,879 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock valued at $136,349,000 after acquiring an additional 360,628 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. The trade was a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 19,078 shares of company stock valued at $2,474,347 over the last quarter. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $118.54 on Tuesday. 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 firm has a market capitalization of $7.48 billion, a P/E ratio of 13.42, a PEG ratio of 1.41 and a beta of 1.38. The firm has a fifty day moving average of $134.22 and a 200-day moving average of $139.32. Mohawk Industries, Inc. has a 52-week low of $96.28 and a 52-week high of $164.29.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. 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 research report on Monday, October 28th. Barclays cut their price objective on shares of Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their target price on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group lifted their price objective on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.17.

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.