Adage Capital Partners GP L.L.C. Has $43.48 Million Position in Mohawk Industries, Inc. $MHK

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Mohawk Industries by purchasing 331,800 shares, resulting in total holdings of 380,770 shares worth approximately $43.5 million.
• Several institutional investors, including JPMorgan Chase & Co. and Dimensional Fund Advisors, raised their positions in Mohawk Industries, indicating a growing confidence in the company's prospects.
• Mohawk Industries reported earnings of $2.77 per share for the last quarter, exceeding analysts' expectations and showing a year-over-year revenue increase, despite a slight decline in EPS compared to the prior year.

Adage Capital Partners GP L.L.C. lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 677.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 380,770 shares of the company's stock after acquiring an additional 331,800 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.61% of Mohawk Industries worth $43,476,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in shares of Mohawk Industries by 326.3% during the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company's stock worth $28,000 after purchasing an additional 186 shares during the period. Brooklyn Investment Group raised its position in shares of Mohawk Industries by 2,506.3% during the 1st quarter. Brooklyn Investment Group now owns 417 shares of the company's stock worth $48,000 after acquiring an additional 401 shares in the last quarter. Resona Asset Management Co. Ltd. raised its position in shares of Mohawk Industries by 40.6% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 481 shares of the company's stock worth $55,000 after acquiring an additional 139 shares in the last quarter. Allworth Financial LP raised its position in shares of Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after acquiring an additional 158 shares in the last quarter. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of Mohawk Industries during the 4th quarter worth about $92,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Stock Up 0.1%

Shares of NYSE MHK traded up $0.14 on Monday, hitting $139.43. The company had a trading volume of 711,280 shares, compared to its average volume of 809,076. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The business has a 50 day moving average of $120.55 and a two-hundred day moving average of $111.98. The company has a quick ratio of 1.18, a current ratio of 2.13 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $8.66 billion, a P/E ratio of 18.54, a PEG ratio of 3.03 and a beta of 1.25.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.15. The firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.Mohawk Industries's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.00 earnings per share. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. As a group, equities research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays lifted their target price on Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Evercore ISI reduced their price objective on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating for the company in a report on Monday, July 28th. Robert W. Baird boosted their price target on Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Wells Fargo & Company boosted their price target on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $123.00 price target (up from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Mohawk Industries presently has an average rating of "Moderate Buy" and a consensus target price of $140.14.

Insider Transactions at Mohawk Industries

In other news, Director Bernard Thiers sold 10,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $128.21, for a total value of $1,282,100.00. Following the completion of the sale, the director owned 105,532 shares in the company, valued at $13,530,257.72. This represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Suzanne L. Helen sold 2,500 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $120.60, for a total value of $301,500.00. Following the completion of the sale, the insider owned 91,084 shares of the company's stock, valued at $10,984,730.40. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,500 shares of company stock valued at $3,905,221. Company insiders own 17.40% of the company's stock.

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.