ING Groep NV Makes New $644,000 Investment in Mohawk Industries, Inc. (NYSE:MHK)

ING Groep NV purchased a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,006 shares of the company’s stock, valued at approximately $644,000.

Several other large investors have also recently made changes to their positions in MHK. Oppenheimer & Co. Inc. purchased a new stake in Mohawk Industries in the third quarter valued at approximately $230,000. MQS Management LLC purchased a new position in Mohawk Industries during the 3rd quarter valued at about $341,000. Aigen Investment Management LP acquired a new position in Mohawk Industries in the 3rd quarter valued at about $491,000. Apollon Wealth Management LLC purchased a new stake in Mohawk Industries during the third quarter worth about $242,000. Finally, Versor Investments LP acquired a new stake in shares of Mohawk Industries during the third quarter worth about $273,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. 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. The Goldman Sachs Group lifted their target price on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada cut their price target on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Truist Financial decreased their price objective 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. Finally, Robert W. Baird upgraded shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $160.00 to $196.00 in a research note on Monday, October 21st. 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $162.08.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 660 shares of the company’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 completion of the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. This represents a 0.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Down 0.0 %

NYSE MHK opened at $140.33 on Monday. Mohawk Industries, Inc. has a 12 month low of $82.71 and a 12 month high of $164.29. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.03 and a quick ratio of 1.09. The firm’s fifty day moving average price is $150.79 and its 200 day moving average price is $136.68.

Mohawk Industries 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.