Kentucky Retirement Systems Insurance Trust Fund Invests $249,000 in Mohawk Industries, Inc. (NYSE:MHK)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,551 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC increased its holdings in shares of 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 last quarter. Headlands Technologies LLC acquired a new position in shares of Mohawk Industries in the second quarter valued at about $50,000. Blue Trust Inc. grew its stake in shares of Mohawk Industries by 85.6% in the third 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. AM Squared Ltd acquired a new position in shares of Mohawk Industries in the second quarter valued at about $68,000. Finally, Capital Performance Advisors LLP bought a new stake in Mohawk Industries during the third quarter worth about $73,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $135.64 on Wednesday. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. Mohawk Industries, Inc. has a 52 week low of $82.71 and a 52 week high of $164.29. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $150.29 and a 200-day moving average of $136.98.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the 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 directly owns 118,709 shares in the company, valued at $17,979,665.14. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 17.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MHK shares. Wells Fargo & Company raised shares of 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 research report on Monday, October 7th. Truist Financial cut their price objective on shares of Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Baird R W raised shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Jefferies Financial Group increased their target price on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Five 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 company. Based on data from MarketBeat.com, Mohawk Industries has a consensus rating of “Moderate Buy” and an average price target 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.