Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 28.6% in the third quarter, Holdings Channel reports. The institutional investor owned 2,665 shares of the company’s stock after buying an additional 593 shares during the quarter. XTX Topco Ltd’s holdings in Mohawk Industries were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MHK. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Mohawk Industries by 4.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,573 shares of the company’s stock worth $1,315,000 after buying an additional 493 shares in the last quarter. Neo Ivy Capital Management bought a new position in Mohawk Industries during the second quarter worth $2,544,000. Fifth Third Bancorp lifted its stake in Mohawk Industries by 7.0% during the second quarter. Fifth Third Bancorp now owns 2,343 shares of the company’s stock worth $266,000 after purchasing an additional 154 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its stake in Mohawk Industries by 11.2% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 667,516 shares of the company’s stock worth $75,823,000 after purchasing an additional 67,452 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Mohawk Industries by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 311,268 shares of the company’s stock worth $35,357,000 after purchasing an additional 7,194 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MHK shares. Truist Financial reduced their price objective 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. Barclays reduced their price objective on Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Loop Capital reduced their price objective on Mohawk Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Royal Bank of Canada cut their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Finally, Jefferies Financial Group raised their target price on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Five 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’s stock. According to MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and an average target price of $161.25.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,000 shares of Mohawk Industries stock in a transaction dated Tuesday, December 3rd. The stock was 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 $332,332.44. The trade was a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $127.81 on Friday. Mohawk Industries, Inc. has a fifty-two week low of $96.28 and a fifty-two week high of $164.29. The firm’s 50-day simple moving average is $142.63 and its 200 day simple moving average is $138.89. 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 stock has a market cap of $8.07 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.45 and a beta of 1.38.

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.