Peapack Gladstone Financial Corp Sells 283 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Peapack Gladstone Financial Corp cut its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 13.7% in the third quarter, HoldingsChannel reports. The firm owned 1,786 shares of the company’s stock after selling 283 shares during the period. Peapack Gladstone Financial Corp’s holdings in Mohawk Industries were worth $287,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Quest Partners LLC boosted its stake in shares of Mohawk Industries by 40.0% during the 2nd quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in Mohawk Industries in the 3rd quarter worth approximately $36,000. Headlands Technologies LLC bought a new stake in Mohawk Industries during the second quarter worth approximately $50,000. Wilmington Savings Fund Society FSB acquired a new position in Mohawk Industries during the third quarter valued at approximately $55,000. Finally, Blue Trust Inc. raised its position 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 purchasing an additional 167 shares during the period. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock opened at $126.71 on Tuesday. Mohawk Industries, Inc. has a twelve month low of $96.28 and a twelve month high of $164.29. 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 firm has a market cap of $8.00 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. The firm’s 50-day simple moving average is $142.06 and its 200-day simple moving average is $139.11.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 9,078 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $130.86, for a total transaction of $1,187,947.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. 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 report on Monday, October 7th. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the company from $160.00 to $196.00 in a research report on Monday, October 21st. Royal Bank of Canada cut their price objective on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Jefferies Financial Group raised their target price on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Barclays cut their price target on Mohawk Industries from $146.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.25.

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.