Mohawk Industries, Inc. (NYSE:MHK) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,626 shares of the company’s stock after buying an additional 497 shares during the quarter. CIBC Asset Management Inc’s holdings in Mohawk Industries were worth $1,225,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC purchased a new stake in shares of Mohawk Industries in the 1st quarter valued at approximately $1,450,000. Vanguard Group Inc. lifted its stake in Mohawk Industries by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,257,677 shares of the company’s stock worth $819,067,000 after purchasing an additional 17,541 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Mohawk Industries in the second quarter valued at $1,253,000. Thompson Siegel & Walmsley LLC raised its holdings in shares of Mohawk Industries by 115.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company’s stock valued at $10,312,000 after buying an additional 48,653 shares during the period. Finally, American Century Companies Inc. lifted its stake in Mohawk Industries by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 914,578 shares of the company’s stock worth $103,887,000 after acquiring an additional 39,653 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Price Performance

Shares of MHK opened at $135.73 on Thursday. The firm has a fifty day moving average price of $150.04 and a 200 day moving average price of $136.97. The stock has a market cap of $8.57 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. Mohawk Industries, Inc. has a 1-year low of $82.71 and a 1-year high of $164.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the business’s 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 transaction, the insider now owns 118,709 shares in the company, valued at $17,979,665.14. The trade was a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MHK shares. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $120.00 to $177.00 in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Barclays dropped their price target on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Royal Bank of Canada reduced their price objective 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, 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. Five 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.