Cetera Investment Advisers Trims Position in Mohawk Industries, Inc. $MHK

Key Points

• Cetera Investment Advisers has reduced its stake in Mohawk Industries, Inc. by 73.9%, selling 6,291 shares and retaining 2,221 shares valued at $254,000.
• Multiple hedge funds have adjusted their positions, with Sound Shore Management acquiring over $61 million in shares of Mohawk in the first quarter.
• Mohawk Industries stock currently has an average rating of "Moderate Buy" with a consensus target price of $140.14, as various analysts provide divergent price targets and ratings.

Cetera Investment Advisers trimmed its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 73.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,221 shares of the company's stock after selling 6,291 shares during the period. Cetera Investment Advisers' holdings in Mohawk Industries were worth $254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MHK. Sound Shore Management Inc. CT purchased a new stake in Mohawk Industries in the first quarter worth $61,159,000. Millennium Management LLC grew its stake in Mohawk Industries by 66.2% in the fourth quarter. Millennium Management LLC now owns 898,322 shares of the company's stock worth $107,017,000 after purchasing an additional 357,687 shares during the period. GAMMA Investing LLC grew its stake in Mohawk Industries by 12,165.8% in the first quarter. GAMMA Investing LLC now owns 310,570 shares of the company's stock worth $35,461,000 after purchasing an additional 308,038 shares during the period. Two Sigma Investments LP grew its stake in Mohawk Industries by 394.5% in the fourth quarter. Two Sigma Investments LP now owns 313,547 shares of the company's stock worth $37,353,000 after purchasing an additional 250,145 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Mohawk Industries in the fourth quarter worth $27,519,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MHK has been the topic of several recent research reports. Wall Street Zen downgraded Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. JPMorgan Chase & Co. boosted their target price on Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Evercore ISI dropped their target price on 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 boosted their target price on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $140.14.

Mohawk Industries Stock Performance

Shares of NYSE:MHK traded down $0.70 during midday trading on Tuesday, reaching $131.36. 635,440 shares of the company's stock traded hands, compared to its average volume of 883,429. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 2.87 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The stock has a 50 day moving average of $115.49 and a 200 day moving average of $111.24.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.15. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.The company's quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company 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 anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the transaction, the chief executive officer directly owned 33,600 shares of the company's stock, valued at $4,059,216. This represents a 32.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction, the director directly owned 105,532 shares in the company, valued at approximately $13,530,257.72. The trade was a 8.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety 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 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.