Harvest Fund Management Co. Ltd Buys 2,843 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Harvest Fund Management Co. Ltd raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 593.5% in the third quarter, Holdings Channel reports. The fund owned 3,322 shares of the company’s stock after acquiring an additional 2,843 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Mohawk Industries were worth $534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC boosted its position in Mohawk Industries by 12.5% in the third quarter. Signaturefd LLC now owns 683 shares of the company’s stock valued at $110,000 after buying an additional 76 shares in the last quarter. Quest Partners LLC grew its position in Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares during the last quarter. State of Michigan Retirement System increased its holdings in Mohawk Industries by 0.7% during the 2nd quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock valued at $1,652,000 after purchasing an additional 100 shares in the last quarter. Allworth Financial LP raised its position in Mohawk Industries by 20.6% in the 3rd quarter. Allworth Financial LP now owns 626 shares of the company’s stock valued at $101,000 after purchasing an additional 107 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Mohawk Industries by 3.9% in the third quarter. US Bancorp DE now owns 3,920 shares of the company’s stock worth $630,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insiders Place Their Bets

In other Mohawk Industries 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 directly owns 118,709 shares in the company, valued at $17,979,665.14. This represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Down 3.5 %

Shares of NYSE MHK opened at $139.91 on Wednesday. Mohawk Industries, Inc. has a twelve month low of $82.71 and a twelve month high of $164.29. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.53 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. The company’s fifty day moving average is $149.22 and its 200-day moving average is $137.57.

Analyst Upgrades and Downgrades

MHK has been the topic of several research reports. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Truist Financial lowered their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company raised Mohawk Industries from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $140.00 to $160.00 in a research note on Monday, October 7th. Barclays lowered their price objective 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. Finally, Royal Bank of Canada cut their target price on shares of Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.