Y Intercept Hong Kong Ltd Has $1 Million Stake in Mohawk Industries, Inc. $MHK

Y Intercept Hong Kong Ltd reduced its position in Mohawk Industries, Inc. (NYSE:MHK) by 59.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,777 shares of the company’s stock after selling 11,362 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Mohawk Industries were worth $1,003,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. ARGA Investment Management LP grew its holdings in Mohawk Industries by 1,508.1% during the 3rd quarter. ARGA Investment Management LP now owns 488,741 shares of the company’s stock worth $63,008,000 after acquiring an additional 458,349 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in Mohawk Industries by 22.6% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 612 shares of the company’s stock worth $78,000 after acquiring an additional 113 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Mohawk Industries during the third quarter worth $221,000. Covestor Ltd grew its holdings in shares of Mohawk Industries by 72.1% in the 3rd quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $92,000 after buying an additional 300 shares during the period. Finally, Rakuten Investment Management Inc. bought a new stake in shares of Mohawk Industries in the 3rd quarter valued at $38,161,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

NYSE:MHK opened at $118.39 on Monday. The stock has a 50 day simple moving average of $114.25 and a 200 day simple moving average of $119.83. The stock has a market cap of $7.32 billion, a P/E ratio of 17.62, a PEG ratio of 2.11 and a beta of 1.23. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $143.13. The company has a current ratio of 2.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $110.36, for a total transaction of $386,260.00. Following the completion of the sale, the insider owned 70,593 shares of the company’s stock, valued at approximately $7,790,643.48. This represents a 4.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 17,135 shares of company stock valued at $1,892,137 over the last three months. 17.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen lowered Mohawk Industries from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Evercore ISI reduced their target price on shares of Mohawk Industries from $124.00 to $118.00 and set an “in-line” rating for the company in a research note on Wednesday, November 19th. Wells Fargo & Company decreased their price objective on Mohawk Industries from $125.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, December 15th. Wolfe Research lowered Mohawk Industries from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Mohawk Industries in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.83.

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.