Assenagon Asset Management S.A. Sells 25,595 Shares of Mohawk Industries, Inc. $MHK

Key Points

• Assenagon Asset Management S.A. reduced its stake in Mohawk Industries by 50.2% during the second quarter, selling 25,595 shares and ending up with 25,417 shares, valued at approximately $2.67 million.
• Multiple hedge funds have recently adjusted their positions in Mohawk Industries, with significant increases in holdings by Mirae Asset Global Investments (up 13.7% to 6,915 shares) and Cambridge Investment Research (up 78% to 3,574 shares).
• Analysts have set various price targets for Mohawk Industries, with Barclays raising its target from $111.00 to $125.00, and Wells Fargo increasing it from $120.00 to $140.00, showcasing a generally positive outlook on the stock.

Assenagon Asset Management S.A. reduced its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 50.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,417 shares of the company's stock after selling 25,595 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Mohawk Industries were worth $2,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Mohawk Industries by 13.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,915 shares of the company's stock worth $787,000 after acquiring an additional 831 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Mohawk Industries by 78.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,574 shares of the company's stock worth $408,000 after acquiring an additional 1,566 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Mohawk Industries by 12.8% in the 1st quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company's stock worth $414,017,000 after acquiring an additional 410,388 shares during the last quarter. Truist Financial Corp raised its holdings in Mohawk Industries by 7.9% in the 1st quarter. Truist Financial Corp now owns 403,936 shares of the company's stock worth $46,121,000 after acquiring an additional 29,480 shares during the last quarter. Finally, QSM Asset Management Ltd raised its holdings in Mohawk Industries by 25.0% in the 1st quarter. QSM Asset Management Ltd now owns 63,566 shares of the company's stock worth $7,160,000 after acquiring an additional 12,700 shares during the last quarter. 78.98% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Bernard Thiers sold 10,000 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $128.21, for a total value of $1,282,100.00. Following the completion of the transaction, the director owned 105,532 shares of the company's stock, valued at approximately $13,530,257.72. This represents a 8.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Suzanne L. Helen sold 2,500 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $120.60, for a total transaction of $301,500.00. Following the completion of the transaction, the insider directly owned 91,084 shares of the company's stock, valued at $10,984,730.40. This represents a 2.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,791 shares of company stock worth $4,357,225. 17.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MHK has been the subject of a number of recent analyst reports. Barclays boosted their price objective on shares of Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Wells Fargo & Company boosted their target price on shares of Mohawk Industries from $120.00 to $140.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Robert W. Baird boosted their target price on shares of Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Evercore ISI decreased their target price on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating for the company in a research note on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $141.93.

Mohawk Industries Trading Down 1.6%

NYSE:MHK opened at $125.82 on Friday. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.78 and a beta of 1.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18. The business has a fifty day moving average price of $126.98 and a 200-day moving average price of $113.64. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29.

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

Mohawk Industries Company 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.

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