Mohawk Industries, Inc. (NYSE:MHK) is RK Asset Management LLC’s 10th Largest Position

RK Asset Management LLC lessened its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,092 shares of the company’s stock after selling 1,862 shares during the period. Mohawk Industries makes up about 4.7% of RK Asset Management LLC’s portfolio, making the stock its 10th biggest holding. RK Asset Management LLC’s holdings in Mohawk Industries were worth $5,729,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in Mohawk Industries by 71.0% during the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company’s stock valued at $64,000 after purchasing an additional 223 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Mohawk Industries by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company’s stock worth $485,983,000 after acquiring an additional 74,123 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Mohawk Industries by 4.4% in the third quarter. Principal Financial Group Inc. now owns 61,724 shares of the company’s stock valued at $9,918,000 after purchasing an additional 2,601 shares during the period. Franklin Resources Inc. raised its stake in shares of Mohawk Industries by 32.8% in the third quarter. Franklin Resources Inc. now owns 37,162 shares of the company’s stock worth $5,878,000 after purchasing an additional 9,173 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in Mohawk Industries by 9.4% in the third quarter. Tidal Investments LLC now owns 13,810 shares of the company’s stock valued at $2,219,000 after buying an additional 1,188 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Price Performance

MHK traded up $1.39 during midday trading on Friday, hitting $117.31. 502,282 shares of the company traded hands, compared to its average volume of 537,491. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.41 and a beta of 1.41. The business has a 50 day simple moving average of $132.17 and a two-hundred day simple moving average of $139.06. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 52-week low of $96.28 and a 52-week high of $164.29.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total value of $270,960.00. Following the transaction, the insider now directly owns 2,453 shares of the company’s stock, valued at approximately $332,332.44. This trade represents a 44.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 19,078 shares of company stock valued at $2,474,347. 17.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial reduced their target price on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a report on Monday, October 28th. Barclays lowered their target price on Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada reduced their price target on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. StockNews.com lowered Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $160.00 to $196.00 in a report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $159.17.

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.