South Street Advisors LLC purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 39,020 shares of the company’s stock, valued at approximately $9,657,000. Mohawk Industries comprises approximately 1.9% of South Street Advisors LLC’s portfolio, making the stock its 17th biggest holding. South Street Advisors LLC owned approximately 0.05% of Mohawk Industries as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in MHK. Janus Henderson Group PLC lifted its position in Mohawk Industries by 399.2% in the second quarter. Janus Henderson Group PLC now owns 34,392 shares of the company’s stock valued at $8,312,000 after buying an additional 27,503 shares during the last quarter. Aviva PLC lifted its position in Mohawk Industries by 1.1% in the second quarter. Aviva PLC now owns 38,875 shares of the company’s stock valued at $9,396,000 after buying an additional 410 shares during the last quarter. Quantbot Technologies LP acquired a new position in Mohawk Industries in the third quarter valued at about $5,281,000. Utah Retirement Systems lifted its position in Mohawk Industries by 0.9% in the second quarter. Utah Retirement Systems now owns 11,397 shares of the company’s stock valued at $2,754,000 after buying an additional 100 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in Mohawk Industries in the second quarter valued at about $53,508,000. 76.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mohawk Industries, Inc. (MHK) traded down $3.20 during trading hours on Tuesday, reaching $277.37. 388,600 shares of the company’s stock were exchanged, compared to its average volume of 484,676. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.77. The stock has a market capitalization of $20,851.97, a price-to-earnings ratio of 20.86, a PEG ratio of 2.54 and a beta of 1.37. Mohawk Industries, Inc. has a one year low of $196.50 and a one year high of $286.85.
A number of research firms have commented on MHK. Jefferies Group began coverage on shares of Mohawk Industries in a research report on Tuesday. They issued a “buy” rating on the stock. Nomura reaffirmed a “buy” rating and issued a $288.00 target price (up previously from $280.00) on shares of Mohawk Industries in a research report on Thursday, September 28th. J P Morgan Chase & Co boosted their price target on shares of Mohawk Industries from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Instinet reiterated a “buy” rating and set a $288.00 price target (up from $280.00) on shares of Mohawk Industries in a research note on Saturday, September 30th. Finally, SunTrust Banks reiterated a “buy” rating and set a $275.00 price target on shares of Mohawk Industries in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $281.42.
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About Mohawk Industries
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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