Sumitomo Mitsui Trust Group Inc. Sells 287 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,286 shares of the company’s stock after selling 287 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Mohawk Industries were worth $1,813,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC bought a new position in shares of Mohawk Industries during the 3rd quarter worth approximately $242,000. Versor Investments LP bought a new position in shares of Mohawk Industries during the third quarter valued at $273,000. Venturi Wealth Management LLC boosted its stake in shares of Mohawk Industries by 9.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,885 shares of the company’s stock valued at $464,000 after purchasing an additional 248 shares in the last quarter. GDS Wealth Management bought a new stake in shares of Mohawk Industries in the 3rd quarter worth about $212,000. Finally, River Global Investors LLP increased its position in shares of Mohawk Industries by 11.8% during the 3rd quarter. River Global Investors LLP now owns 24,316 shares of the company’s stock worth $3,906,000 after purchasing an additional 2,573 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Stock Down 2.0 %

NYSE:MHK opened at $135.64 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12-month low of $82.71 and a 12-month high of $164.29. The stock’s fifty day simple moving average is $150.29 and its 200-day simple moving average is $136.98. The firm has a market capitalization of $8.56 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.55 and a beta of 1.38.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,300 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total value of $347,645.00. Following the sale, the insider now directly owns 119,369 shares in the company, valued at approximately $18,042,624.35. This trade represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 17.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Loop Capital raised their price target on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Jefferies Financial Group lifted their price target on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. Finally, Royal Bank of Canada decreased their price target on shares of 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. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Mohawk Industries presently has a consensus rating of “Moderate Buy” and an average target price of $162.08.

Mohawk Industries Company Profile

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.