Mohawk Industries, Inc. $MHK Shares Bought by Citigroup Inc.

Key Points

• Citigroup Inc. increased its holdings in Mohawk Industries by 56.6% in Q1, owning approximately $9.57 million worth of shares.
• CEO Jeffrey S. Lorberbaum and insider Suzanne L. Helen sold a combined total of 18,500 shares in late July, indicating a significant decrease in their ownership.
• According to recent analyst reports, the stock has a consensus rating of "Moderate Buy" with a price target averaging $140.14.

Citigroup Inc. raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 56.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,781 shares of the company's stock after acquiring an additional 30,271 shares during the quarter. Citigroup Inc. owned approximately 0.13% of Mohawk Industries worth $9,566,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MHK. Sound Shore Management Inc. CT acquired a new position in shares of Mohawk Industries during the first quarter valued at approximately $61,159,000. Millennium Management LLC grew its position 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 acquiring an additional 357,687 shares during the period. GAMMA Investing LLC grew its position 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 acquiring an additional 308,038 shares during the period. Two Sigma Investments LP grew its position 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 acquiring an additional 250,145 shares during the period. Finally, Paloma Partners Management Co purchased a new position in Mohawk Industries in the fourth quarter worth approximately $27,519,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Stock Performance

Shares of MHK traded down $2.25 during midday trading on Wednesday, reaching $125.54. 246,350 shares of the stock were exchanged, compared to its average volume of 813,399. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 2.77 and a beta of 1.28. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. The business's 50-day moving average price is $112.84 and its 200 day moving average price is $110.94. 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 issued its quarterly earnings results 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 return on equity of 7.30% and a net margin of 4.44%.The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.00 EPS. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $120.81, for a total value of $1,932,960.00. Following the transaction, the chief executive officer owned 33,600 shares in the company, valued at $4,059,216. The trade was a 32.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Suzanne L. Helen sold 2,500 shares of the business'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 transaction, the insider owned 91,084 shares in the company, valued at $10,984,730.40. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 17.40% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MHK. JPMorgan Chase & Co. increased their price objective on Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Wells Fargo & Company raised their price target on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada restated a "sector perform" rating and set a $123.00 price target (up from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. Barclays raised their price target on Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Finally, Evercore ISI lowered their price target on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating for the company in a research report 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $140.14.

Mohawk Industries 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.