WESPAC Advisors LLC Buys New Shares in Mohawk Industries, Inc. (NYSE:MHK)

WESPAC Advisors LLC purchased a new position in Mohawk Industries, Inc. (NYSE:MHK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,931 shares of the company’s stock, valued at approximately $632,000.

Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after acquiring an additional 84 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Mohawk Industries during the second quarter valued at approximately $50,000. Blue Trust Inc. grew its holdings in shares of Mohawk Industries by 85.6% in the third quarter. Blue Trust Inc. now owns 362 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares during the last quarter. AM Squared Ltd purchased a new position in shares of Mohawk Industries in the second quarter worth $68,000. Finally, Capital Performance Advisors LLP bought a new stake in Mohawk Industries during the 3rd quarter valued at $73,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Price Performance

Shares of MHK opened at $138.77 on Friday. The firm’s 50-day simple moving average is $149.44 and its two-hundred day simple moving average is $137.12. Mohawk Industries, Inc. has a fifty-two week low of $82.71 and a fifty-two week high of $164.29. The stock has a market cap of $8.76 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.52 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Jefferies Financial Group upped their price target on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada reduced 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, Baird R W raised Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Five equities 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’s stock. Based on data from MarketBeat.com, Mohawk Industries has an average rating of “Moderate Buy” and an average target price of $162.08.

Insider Buying and Selling

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 completion of the transaction, the insider now owns 118,709 shares of the company’s stock, valued at $17,979,665.14. The trade was a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.10% of the stock is currently owned by company insiders.

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.