Ieq Capital LLC Sells 5,352 Shares of Mohawk Industries, Inc. $MHK

Key Points

• Ieq Capital LLC has reduced its position in Mohawk Industries by 56.2%, selling 5,352 shares during the first quarter, leaving it with an ownership of 4,175 shares valued at $477,000.
• Insider Suzanne L. Helen sold 2,500 shares at an average price of $120.60, while VP Rodney David Patton sold 700 shares at $128.05, indicating a decrease in their respective stakes.
• Analysts have provided mixed ratings for Mohawk Industries, with a current average rating of "Moderate Buy" and a target price of $140.14, following several recent adjustments by research firms.

Ieq Capital LLC reduced its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 56.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,175 shares of the company's stock after selling 5,352 shares during the period. Ieq Capital LLC's holdings in Mohawk Industries were worth $477,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MHK. Citadel Investment Advisory Inc. lifted its holdings in Mohawk Industries by 0.8% during the first quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company's stock worth $1,467,000 after acquiring an additional 100 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Mohawk Industries by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company's stock worth $3,054,000 after acquiring an additional 120 shares in the last quarter. M&T Bank Corp lifted its holdings in Mohawk Industries by 3.8% during the first quarter. M&T Bank Corp now owns 3,315 shares of the company's stock worth $378,000 after acquiring an additional 122 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Mohawk Industries by 3.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company's stock worth $457,000 after acquiring an additional 126 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Mohawk Industries by 4.7% during the first quarter. Venturi Wealth Management LLC now owns 2,899 shares of the company's stock worth $331,000 after acquiring an additional 131 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of Mohawk Industries 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 sale, the chief executive officer owned 33,600 shares of the company's stock, valued at approximately $4,059,216. The trade was a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rodney David Patton sold 700 shares of Mohawk Industries stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $128.05, for a total value of $89,635.00. Following the completion of the sale, the vice president directly owned 17,804 shares in the company, valued at approximately $2,279,802.20. This represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,500 shares of company stock worth $3,905,221 in the last three months. Insiders own 17.40% of the company's stock.

Mohawk Industries Stock Up 2.8%

Shares of MHK traded up $3.83 during midday trading on Friday, hitting $139.25. The stock had a trading volume of 1,347,034 shares, compared to its average volume of 708,350. 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 company has a 50 day simple moving average of $120.55 and a two-hundred day simple moving average of $112.02. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29.

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, beating analysts' consensus estimates of $2.62 by $0.15. The business 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 quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.00 earnings per share. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. On average, analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on MHK. Wells Fargo & Company lifted 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. Robert W. Baird lifted their target price on Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Evercore ISI reduced 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. Barclays lifted their target price on Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. lifted their price target on Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.