Victory Capital Management Inc. Sells 2,435 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Victory Capital Management Inc. cut its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,922 shares of the company’s stock after selling 2,435 shares during the period. Victory Capital Management Inc. owned about 0.36% of Mohawk Industries worth $36,140,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MHK. Massachusetts Financial Services Co. MA purchased a new stake in shares of Mohawk Industries during the 2nd quarter valued at $85,997,000. Pacer Advisors Inc. raised its position in Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company’s stock worth $136,349,000 after acquiring an additional 360,628 shares during the period. Dimensional Fund Advisors LP boosted its stake in Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after acquiring an additional 292,661 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of Mohawk Industries during the 2nd quarter valued at approximately $21,061,000. Finally, Select Equity Group L.P. increased its stake in shares of Mohawk Industries by 8.5% during the 2nd quarter. Select Equity Group L.P. now owns 1,702,440 shares of the company’s stock worth $193,380,000 after purchasing an additional 132,879 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Price Performance

NYSE:MHK opened at $140.33 on Friday. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.55 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. The stock has a fifty day moving average of $150.79 and a 200 day moving average of $136.53. Mohawk Industries, Inc. has a 52-week low of $82.71 and a 52-week high of $164.29.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the transaction, the insider now directly owns 118,709 shares of the company’s stock, valued at approximately $17,979,665.14. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MHK shares. JPMorgan Chase & Co. increased their price objective on Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Loop Capital lifted their price objective on Mohawk Industries from $145.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Robert W. Baird raised shares of Mohawk Industries from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $160.00 to $196.00 in a report on Monday, October 21st. Jefferies Financial Group boosted their price target on shares of Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Bank of America raised shares of Mohawk Industries from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $120.00 to $177.00 in a report on Friday, July 26th. Five investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.08.

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.