Lecap Asset Management Ltd. Buys 3,590 Shares of Mohawk Industries, Inc. $MHK

Key Points

• Lecap Asset Management Ltd. increased its stake in Mohawk Industries by 111.4% in Q2, acquiring an additional 3,590 shares for a total worth of $714,000.
• Institutional investors and hedge funds own 78.98% of Mohawk Industries, with several firms notably increasing their positions in the first quarter.
• Analysts have upgraded Mohawk Industries’ price targets, now averaging at $141.93, reflecting a generally positive outlook on the stock.

Lecap Asset Management Ltd. boosted its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 111.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,812 shares of the company's stock after purchasing an additional 3,590 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Mohawk Industries were worth $714,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MHK. Alyeska Investment Group L.P. grew its position in shares of Mohawk Industries by 436.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 756,030 shares of the company's stock worth $86,324,000 after buying an additional 615,095 shares during the period. Sound Shore Management Inc. CT bought a new position in Mohawk Industries during the 1st quarter worth approximately $61,159,000. JPMorgan Chase & Co. grew its holdings in Mohawk Industries by 12.8% during the first quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company's stock valued at $414,017,000 after purchasing an additional 410,388 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Mohawk Industries by 677.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 380,770 shares of the company's stock valued at $43,476,000 after purchasing an additional 331,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Mohawk Industries by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,964,190 shares of the company's stock worth $338,444,000 after purchasing an additional 213,429 shares during the period. Institutional investors and hedge funds own 78.98% of the company's stock.

Analysts Set New Price Targets

MHK has been the subject of several research analyst reports. Robert W. Baird boosted their price target on shares of 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 target price on Mohawk Industries from $120.00 to $140.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. 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 report on Monday, July 28th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $123.00 price target (up previously from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $141.93.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the sale, the chief executive officer directly owned 33,600 shares of the company's stock, valued at $4,059,216. The trade was a 32.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Rodney David Patton sold 700 shares of the firm's 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 transaction, the vice president owned 17,804 shares of the company's stock, valued at $2,279,802.20. The trade was a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,791 shares of company stock valued at $4,357,225 over the last quarter. 17.40% of the stock is currently owned by corporate insiders.

Mohawk Industries Stock Up 0.4%

Shares of Mohawk Industries stock opened at $129.36 on Friday. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. The business's 50 day simple moving average is $128.49 and its 200 day simple moving average is $114.18. The firm has a market cap of $8.04 billion, a PE ratio of 17.20, a P/E/G ratio of 2.80 and a beta of 1.29.

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 during the quarter, compared to analysts' expectations of $2.76 billion. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The business's quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $3.00 EPS. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. On average, analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

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.

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