Apollon Wealth Management LLC Makes New $242,000 Investment in Mohawk Industries, Inc. (NYSE:MHK)

Apollon Wealth Management LLC acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,506 shares of the company’s stock, valued at approximately $242,000.

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

Mohawk Industries Stock Performance

Shares of NYSE MHK opened at $138.47 on Tuesday. The firm’s 50-day moving average price is $150.79 and its two-hundred day moving average price is $136.68. Mohawk Industries, Inc. has a 52-week low of $82.71 and a 52-week high of $164.29. The stock has a market capitalization of $8.74 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.54 and a beta of 1.38. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MHK. Jefferies Financial Group boosted their price target on Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Truist Financial reduced their price target on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Royal Bank of Canada dropped their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Wells Fargo & Company upgraded Mohawk Industries from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $140.00 to $160.00 in a report on Monday, October 7th. Finally, Bank of America upgraded Mohawk Industries from an “underperform” rating to a “buy” rating and increased their price target for the company from $120.00 to $177.00 in a report on Friday, July 26th. Five research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.08.

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the firm’s 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 owns 118,709 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 17.10% of the stock is owned by company insiders.

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.