Jupiter Topco LLC Takes $2.81 Million Position in Mohawk Industries, Inc. $MHK

Key Points

• Jupiter Topco acquired 23,130 shares of Mohawk Industries worth approximately $2.81 million in the second quarter. Institutional investors collectively own 78.98% of the company.
• Analysts raised several price targets, with the consensus target reaching $130.50; however, the overall analyst rating remains “Hold,” with 12 analysts assigning that rating.
• Mohawk reported quarterly EPS of $3.67, beating estimates by $1.09, while revenue rose 6.8% year over year to $2.99 billion. Recent insider activity was bearish, with insiders selling $14.3 million of stock over the past three months.

Jupiter Topco LLC bought a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,130 shares of the company's stock, valued at approximately $2,809,000.

Several other large investors have also recently added to or reduced their stakes in MHK. Goldman Sachs Group Inc. increased its stake in shares of Mohawk Industries by 14.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 344,797 shares of the company's stock valued at $39,369,000 after acquiring an additional 42,655 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Mohawk Industries by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 193,977 shares of the company's stock worth $22,148,000 after acquiring an additional 1,175 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Mohawk Industries in the first quarter valued at approximately $149,000. Creative Planning grew its holdings in Mohawk Industries by 10.2% in the second quarter. Creative Planning now owns 3,730 shares of the company's stock valued at $391,000 after purchasing an additional 346 shares during the period. Finally, CW Advisors LLC acquired a new position in Mohawk Industries during the second quarter worth approximately $280,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MHK has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price target on shares of Mohawk Industries from $117.00 to $130.00 and gave the stock a "sector perform" rating in a research note on Monday, August 3rd. Truist Financial boosted their price objective on shares of Mohawk Industries from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded Mohawk Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Barclays lifted their target price on Mohawk Industries from $109.00 to $115.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price target on Mohawk Industries from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $130.50.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 1,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $139.48, for a total value of $139,480.00. Following the completion of the sale, the insider owned 6,132 shares in the company, valued at approximately $855,291.36. This trade represents a 14.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David Lee Repp sold 225 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $130.59, for a total value of $29,382.75. Following the completion of the sale, the chief accounting officer owned 1,786 shares of the company's stock, valued at approximately $233,233.74. This trade represents a 11.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 113,038 shares of company stock worth $14,303,491 over the last three months. 17.90% of the stock is currently owned by corporate insiders.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $129.03 on Thursday. The company's fifty day simple moving average is $123.34 and its 200-day simple moving average is $112.83. Mohawk Industries, Inc. has a 52 week low of $92.99 and a 52 week high of $143.13. The company has a current ratio of 1.92, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $8.74 billion, a PE ratio of 17.09, a P/E/G ratio of 1.81 and a beta of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $1.09. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. The firm had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.79 billion. During the same period in the prior year, the company earned $2.77 EPS. The firm's revenue was up 6.8% on a year-over-year basis. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.9 EPS for the current year.

Mohawk Industries Company Profile

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company's product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source