Cetera Investment Advisers Trims Stock 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 cut its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 73.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,221 shares of the company's stock after selling 6,291 shares during the quarter. Cetera Investment Advisers' holdings in Mohawk Industries were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Mohawk Industries during the fourth quarter valued at about $4,891,000. Mariner LLC raised its stake in shares of Mohawk Industries by 24.4% in the 4th quarter. Mariner LLC now owns 15,606 shares of the company's stock valued at $1,859,000 after acquiring an additional 3,057 shares during the period. Forum Financial Management LP purchased a new stake in shares of Mohawk Industries in the 4th quarter valued at approximately $273,000. MetLife Investment Management LLC increased its holdings in Mohawk Industries by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 13,865 shares of the company's stock valued at $1,652,000 after purchasing an additional 245 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Mohawk Industries by 144.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,510 shares of the company's stock valued at $776,000 after purchasing an additional 3,846 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MHK has been the subject of several research reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $123.00 target price (up previously from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Robert W. Baird raised their target price on Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Wells Fargo & Company boosted their price target on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Barclays lifted their price objective on shares of Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Mohawk Industries has an average rating of "Moderate Buy" and an average target price of $140.14.

Mohawk Industries Stock Up 7.3%

NYSE MHK traded up $9.0040 during trading hours on Friday, hitting $133.1740. 1,064,183 shares of the company were exchanged, compared to its average volume of 983,350. The company has a 50 day moving average of $114.25 and a two-hundred day moving average of $111.09. The company has a quick ratio of 1.18, a current ratio of 2.13 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.70 and a beta of 1.28.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly 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 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%.Mohawk Industries's revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.00 EPS. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Rodney David Patton sold 700 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $128.05, for a total transaction of $89,635.00. Following the completion of the transaction, the vice president directly owned 17,804 shares of the company's stock, valued at approximately $2,279,802.20. This represents a 3.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bernard Thiers sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 105,532 shares in the company, valued at $13,530,257.72. This trade represents a 8.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,700 shares of company stock valued at $3,798,885 over the last quarter. Corporate 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.