Boothbay Fund Management LLC Decreases Stock Holdings in Mohawk Industries, Inc. $MHK

Key Points

• Boothbay Fund Management LLC reduced its holdings in Mohawk Industries by 14.4%, owning 62,039 shares valued at approximately $7.08 million as of its latest SEC filing.
• Several institutional investors, including Federated Hermes and Brooklyn Investment Group, significantly increased their stakes in Mohawk Industries during the first quarter.
• Analysts have adjusted their price targets for Mohawk Industries, with an average target price of $140.14 and mixed ratings ranging from Strong Buy to Hold.

Boothbay Fund Management LLC lessened its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,039 shares of the company's stock after selling 10,435 shares during the period. Boothbay Fund Management LLC owned about 0.10% of Mohawk Industries worth $7,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Mohawk Industries by 13.7% during 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 period. Cambridge Investment Research Advisors Inc. raised its holdings in Mohawk Industries by 78.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,574 shares of the company's stock valued at $408,000 after buying an additional 1,566 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Mohawk Industries by 12.8% in the first quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company's stock worth $414,017,000 after buying an additional 410,388 shares during the last quarter. Truist Financial Corp lifted its position in shares of Mohawk Industries by 7.9% in the first quarter. Truist Financial Corp now owns 403,936 shares of the company's stock worth $46,121,000 after buying an additional 29,480 shares during the last quarter. Finally, QSM Asset Management Ltd lifted its position in shares of Mohawk Industries by 25.0% in the first quarter. QSM Asset Management Ltd now owns 63,566 shares of the company's stock worth $7,160,000 after buying an additional 12,700 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Trading Up 0.1%

Shares of Mohawk Industries stock traded up $0.14 during trading on Monday, hitting $139.43. 715,460 shares of the company were exchanged, compared to its average volume of 809,076. The firm's fifty day moving average price is $120.55 and its 200 day moving average price is $111.98. The firm has a market capitalization of $8.66 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18.

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

Insider Buying and Selling at Mohawk Industries

In related news, insider Suzanne L. Helen sold 2,500 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $120.60, for a total value of $301,500.00. Following the sale, the insider directly owned 91,084 shares in the company, valued at $10,984,730.40. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Rodney David Patton sold 700 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $128.05, for a total value of $89,635.00. Following the sale, the vice president directly owned 17,804 shares of the company's stock, valued at $2,279,802.20. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,500 shares of company stock worth $3,905,221 over the last ninety days. Insiders own 17.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MHK shares. JPMorgan Chase & Co. boosted their price target on Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Robert W. Baird lifted their price objective on Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $123.00 price objective (up from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Wells Fargo & Company lifted their price objective on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Evercore ISI dropped their price objective on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a research note on Monday, July 28th. Two equities research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $140.14.

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.