GDS Wealth Management Invests $212,000 in Mohawk Industries, Inc. (NYSE:MHK)

GDS Wealth Management purchased a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,321 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds have also recently added to or reduced their stakes in MHK. Texas Permanent School Fund Corp lifted its holdings in shares of Mohawk Industries by 0.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company’s stock valued at $1,430,000 after buying an additional 98 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Mohawk Industries in the first quarter valued at $774,000. Sei Investments Co. boosted its position in shares of Mohawk Industries by 2,040.6% during the 1st quarter. Sei Investments Co. now owns 62,720 shares of the company’s stock worth $8,209,000 after purchasing an additional 59,790 shares in the last quarter. Patton Fund Management Inc. acquired a new position in shares of Mohawk Industries during the 1st quarter worth $202,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Mohawk Industries by 20.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 61,447 shares of the company’s stock valued at $8,043,000 after purchasing an additional 10,274 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

Shares of MHK opened at $145.49 on Tuesday. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.60 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. Mohawk Industries, Inc. has a 1 year low of $79.31 and a 1 year high of $164.29. The company’s 50 day simple moving average is $151.47 and its 200 day simple moving average is $135.98.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 2,300 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the transaction, the insider now directly owns 119,369 shares in the company, valued at approximately $18,042,624.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction on 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 approximately $17,979,665.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 2,300 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the sale, the insider now owns 119,369 shares of the company’s stock, valued at $18,042,624.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays decreased their price objective on shares of Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Royal Bank of Canada decreased their price target 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. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $160.00 to $196.00 in a research note on Monday, October 21st. Jefferies Financial Group boosted their target price on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their price target on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Five investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.