Balefire LLC Takes $307,000 Position in Mohawk Industries, Inc. $MHK

Key Points

• Balefire LLC has made a new investment of approximately $307,000 in Mohawk Industries by acquiring 2,924 shares in the second quarter.
• Several institutional investors have significantly increased their stakes in Mohawk Industries, with Federated Hermes Inc. raising its holdings by 326.3% in the first quarter.
• Mohawk Industries reported earnings of $2.77 per share for the latest quarter, exceeding analysts' expectations and reflecting a revenue increase of 0.0% year-over-year.

Balefire LLC acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,924 shares of the company's stock, valued at approximately $307,000.

Several other institutional investors have also added to or reduced their stakes in MHK. Federated Hermes Inc. grew its position in shares of Mohawk Industries by 326.3% in the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company's stock worth $28,000 after buying an additional 186 shares during the period. Brooklyn Investment Group grew its position in Mohawk Industries by 2,506.3% during the 1st quarter. Brooklyn Investment Group now owns 417 shares of the company's stock valued at $48,000 after purchasing an additional 401 shares during the last quarter. Resona Asset Management Co. Ltd. increased its stake in Mohawk Industries by 40.6% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 481 shares of the company's stock valued at $55,000 after purchasing an additional 139 shares in the last quarter. Allworth Financial LP increased its stake in Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after purchasing an additional 158 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Mohawk Industries during the 1st quarter valued at about $149,000. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Performance

NYSE MHK traded down $2.42 on Friday, reaching $130.35. 1,526,280 shares of the stock were exchanged, compared to its average volume of 699,117. The firm has a market capitalization of $8.10 billion, a PE ratio of 17.33, a PEG ratio of 2.89 and a beta of 1.25. The company has a current ratio of 2.13, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The company's 50-day simple moving average is $125.59 and its two-hundred day simple moving average is $113.35.

Mohawk Industries (NYSE:MHK - Get Free Report) last released 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 net margin of 4.44% and a return on equity of 7.30%. The company's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 earnings per share. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MHK shares. Royal Bank Of Canada restated a "sector perform" rating and set a $123.00 price objective (up from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Barclays raised their price objective on shares of Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. raised their price target on shares of Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Evercore ISI dropped their price target on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a report on Monday, July 28th. Finally, Wells Fargo & Company raised their price target on shares of Mohawk Industries from $120.00 to $140.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.93.

Insider Activity at Mohawk Industries

In other news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the sale, the chief executive officer owned 33,600 shares in the company, valued at $4,059,216. This trade represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Rodney David Patton sold 700 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $128.05, for a total transaction of $89,635.00. Following the sale, the vice president owned 17,804 shares in the company, valued at approximately $2,279,802.20. The trade was a 3.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,791 shares of company stock worth $4,357,225. 17.40% of the stock is currently owned by corporate insiders.

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.