Sound Shore Management Inc CT Sells 22,911 Shares of Mohawk Industries, Inc. $MHK

Sound Shore Management Inc CT decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 661,166 shares of the company’s stock after selling 22,911 shares during the period. Mohawk Industries comprises 2.8% of Sound Shore Management Inc CT’s portfolio, making the stock its 15th biggest holding. Sound Shore Management Inc CT owned about 1.07% of Mohawk Industries worth $85,238,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Atlas FRM LLC raised its stake in Mohawk Industries by 28.0% during the second quarter. Atlas FRM LLC now owns 608,000 shares of the company’s stock worth $63,743,000 after acquiring an additional 133,000 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Mohawk Industries in the 3rd quarter worth about $20,054,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Mohawk Industries during the 2nd quarter worth about $337,000. ARGA Investment Management LP boosted its position in Mohawk Industries by 1,508.1% in the third quarter. ARGA Investment Management LP now owns 488,741 shares of the company’s stock valued at $63,008,000 after buying an additional 458,349 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Mohawk Industries by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,829,830 shares of the company’s stock worth $235,902,000 after buying an additional 9,516 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $135.04 on Thursday. The company has a market cap of $8.35 billion, a PE ratio of 20.10, a PEG ratio of 3.81 and a beta of 1.23. The company has a current ratio of 2.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $143.13. The company’s 50-day moving average is $116.77 and its two-hundred day moving average is $120.68.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MHK shares. Raymond James Financial reissued a “strong-buy” rating and issued a $150.00 target price (up from $140.00) on shares of Mohawk Industries in a report on Tuesday, October 21st. Evercore reduced their price objective on Mohawk Industries from $124.00 to $118.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 19th. Jefferies Financial Group lowered their target price on Mohawk Industries from $134.00 to $128.00 and set a “hold” rating for the company in a research note on Monday, December 15th. Vertical Research began coverage on shares of Mohawk Industries in a research report on Monday, October 20th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Mohawk Industries from $110.00 to $125.00 and gave the stock a “cautious” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $129.78.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 2,700 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $109.00, for a total value of $294,300.00. Following the transaction, the insider owned 67,893 shares of the company’s stock, valued at $7,400,337. This represents a 3.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 14,485 shares of company stock worth $1,604,006. 17.40% of the stock is currently owned by insiders.

About Mohawk Industries

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.