Mohawk Industries, Inc. $MHK Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in Mohawk Industries, Inc. (NYSE:MHK) by 70.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 46,956 shares of the company’s stock after selling 113,737 shares during the quarter. Truist Financial Corp owned 0.08% of Mohawk Industries worth $6,054,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MHK. Root Financial Partners LLC purchased a new stake in Mohawk Industries in the 3rd quarter valued at approximately $25,000. MTM Investment Management LLC purchased a new position in shares of Mohawk Industries during the 2nd quarter worth $28,000. Quent Capital LLC purchased a new stake in Mohawk Industries in the third quarter valued at approximately $33,000. SJS Investment Consulting Inc. grew its holdings in shares of Mohawk Industries by 5,385.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 384 shares of the company’s stock worth $50,000 after purchasing an additional 377 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its position in shares of Mohawk Industries by 22.6% in the third quarter. Resona Asset Management Co. Ltd. now owns 612 shares of the company’s stock worth $78,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

MHK has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on shares of Mohawk Industries from $125.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, December 15th. Vertical Research began coverage on Mohawk Industries in a research report on Monday, October 20th. They issued a “buy” rating for the company. Raymond James Financial reiterated a “strong-buy” rating and set a $150.00 price objective (up previously from $140.00) on shares of Mohawk Industries in a research report on Tuesday, October 21st. Barclays set a $121.00 target price on Mohawk Industries in a research report on Monday, December 8th. Finally, Jefferies Financial Group decreased their target price on shares of Mohawk Industries from $134.00 to $128.00 and set a “hold” rating for the company in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Mohawk Industries presently has a consensus rating of “Moderate Buy” and an average target price of $133.83.

Mohawk Industries Price Performance

MHK opened at $120.45 on Tuesday. The company has a fifty day moving average price of $114.47 and a two-hundred day moving average price of $119.90. The firm has a market capitalization of $7.45 billion, a PE ratio of 17.92, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 2.25. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $143.13.

Insider Buying and Selling

In other Mohawk Industries news, insider Suzanne L. Helen sold 3,500 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $110.36, for a total transaction of $386,260.00. Following the transaction, the insider owned 70,593 shares in the company, valued at $7,790,643.48. This trade represents a 4.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 16,235 shares of company stock worth $1,792,813 over the last three months. Insiders own 17.40% of the company’s stock.

Mohawk Industries Profile

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.