Cornercap Investment Counsel Inc. Has $442,000 Stake in Mohawk Industries, Inc. (NYSE:MHK)

Cornercap Investment Counsel Inc. lowered its position in Mohawk Industries, Inc. (NYSE:MHK) by 53.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,751 shares of the company’s stock after selling 3,133 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Mohawk Industries were worth $442,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC lifted its position in shares of Mohawk Industries by 40.0% in the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after purchasing an additional 84 shares during the period. Blue Trust Inc. increased its stake in shares of Mohawk Industries by 85.6% in the 3rd quarter. Blue Trust Inc. now owns 362 shares of the company’s stock valued at $58,000 after acquiring an additional 167 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Mohawk Industries in the 2nd quarter valued at $50,000. Capital Performance Advisors LLP bought a new stake in shares of Mohawk Industries in the 3rd quarter valued at $73,000. Finally, AM Squared Ltd bought a new stake in shares of Mohawk Industries in the 2nd quarter valued at $68,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

NYSE MHK opened at $140.33 on Friday. Mohawk Industries, Inc. has a 1 year low of $82.71 and a 1 year high of $164.29. 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 has a market cap of $8.86 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.55 and a beta of 1.38. The company has a fifty day moving average price of $150.79 and a 200-day moving average price of $136.53.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MHK. Jefferies Financial Group lifted their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $177.00 in a research note on Friday, July 26th. Wells Fargo & Company upgraded shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $140.00 to $160.00 in a research note on Monday, October 7th. Loop Capital boosted their price target on shares of Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.08.

Insider Transactions at Mohawk Industries

In other news, insider Suzanne L. Helen sold 660 shares of the company’s stock in a transaction on Monday, September 9th. The shares were 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 owns 118,709 shares in the company, valued at $17,979,665.14. This represents a 0.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 17.10% of the company’s stock.

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.