Element Capital Management LLC Buys New Stake in Mohawk Industries, Inc. $MHK

Key Points

• Element Capital Management LLC has acquired a new stake in Mohawk Industries, investing approximately $2.67 million to buy 23,336 shares in the first quarter of the year.
• Several institutional investors have increased their positions in Mohawk Industries, with Federated Hermes Inc. boosting its stake by 326.3%.
• JPMorgan Chase & Co. and Wells Fargo & Company have upgraded their price targets for Mohawk Industries, with consensus ratings suggesting a "Moderate Buy" for the stock.

Element Capital Management LLC purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 23,336 shares of the company's stock, valued at approximately $2,665,000.

A number of other hedge funds also recently bought and sold shares of MHK. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Mohawk Industries by 13.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,915 shares of the company's stock worth $787,000 after buying an additional 831 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Mohawk Industries by 78.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,574 shares of the company's stock worth $408,000 after buying an additional 1,566 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Mohawk Industries by 12.8% during the 1st 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 in the last quarter. Truist Financial Corp grew its position in shares of Mohawk Industries by 7.9% during the 1st 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 in the last quarter. Finally, QSM Asset Management Ltd lifted its holdings in Mohawk Industries by 25.0% during 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 period. Hedge funds and other institutional investors own 78.98% of the company's stock.

Insider Buying and Selling at Mohawk Industries

In other news, VP Rodney David Patton sold 700 shares of Mohawk Industries stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $128.05, for a total value of $89,635.00. Following the completion of the transaction, the vice president owned 17,804 shares in the company, valued at approximately $2,279,802.20. This trade represents a 3.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bernard Thiers sold 10,000 shares of Mohawk Industries stock in a transaction dated 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 completion of the transaction, the director owned 105,532 shares of the company's stock, valued at $13,530,257.72. The trade was a 8.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,200 shares of company stock worth $3,606,195. 17.40% of the stock is currently owned by company insiders.

Mohawk Industries Trading Down 2.9%

Shares of MHK stock traded down $3.7040 during trading hours on Wednesday, hitting $124.0860. The company had a trading volume of 909,815 shares, compared to its average volume of 1,000,310. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18. The stock has a market capitalization of $7.71 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.28. The company's fifty day moving average is $113.22 and its 200 day moving average is $111.03. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.00 earnings per share. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MHK shares. Barclays boosted their price objective on shares of Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $123.00 target price (up previously from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Wall Street Zen lowered Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Wells Fargo & Company raised their price target on shares of Mohawk Industries from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, 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 research report on Tuesday, July 29th. Two investment 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, Mohawk Industries presently has an average rating of "Moderate Buy" and a consensus price target of $140.14.

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.