Maverick Capital Ltd. Acquires Shares of 8,308 Mohawk Industries, Inc. $MHK

Key Points

• Maverick Capital Ltd. purchased 8,308 shares of Mohawk Industries, valued at approximately $949,000, indicating growing institutional interest in the company.
• The average target price for Mohawk Industries has increased, with Barclays raising it from $111.00 to $125.00, while analysts maintain an average rating of "Moderate Buy."
• Mohawk Industries reported $2.80 billion in revenue for the last quarter, exceeding analysts' expectations, alongside an earnings per share of $2.77.

Maverick Capital Ltd. acquired a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,308 shares of the company's stock, valued at approximately $949,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in Mohawk Industries by 326.3% in the first quarter. Federated Hermes Inc. now owns 243 shares of the company's stock worth $28,000 after purchasing an additional 186 shares during the period. Brooklyn Investment Group increased its position in Mohawk Industries by 2,506.3% in the first quarter. Brooklyn Investment Group now owns 417 shares of the company's stock worth $48,000 after purchasing an additional 401 shares during the period. Resona Asset Management Co. Ltd. increased its position in Mohawk Industries by 40.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 481 shares of the company's stock worth $55,000 after purchasing an additional 139 shares during the period. Allworth Financial LP increased its position in Mohawk Industries by 36.2% in the first quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after purchasing an additional 158 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new stake in Mohawk Industries in the fourth quarter worth about $92,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries Stock Up 2.8%

NYSE MHK traded up $3.83 during 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 market capitalization of $8.65 billion, a PE ratio of 18.52, a P/E/G ratio of 2.95 and a beta of 1.25. The company's 50-day moving average price is $120.55 and its two-hundred day moving average price is $112.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 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 EPS for the quarter, beating the consensus estimate of $2.62 by $0.15. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.The firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter in the previous year, the business posted $3.00 EPS. The business's quarterly revenue was up .0% compared to the same quarter last year. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. As a group, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 800 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $132.92, for a total value of $106,336.00. Following the sale, the insider owned 88,784 shares in the company, valued at approximately $11,801,169.28. This represents a 0.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $120.81, for a total value of $1,932,960.00. Following the completion of the sale, the chief executive officer owned 33,600 shares in the company, valued at approximately $4,059,216. This trade represents a 32.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,500 shares of company stock worth $3,905,221. 17.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MHK. Royal Bank Of Canada restated a "sector perform" rating and set a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. Evercore ISI decreased their target price 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. JPMorgan Chase & Co. boosted their target price on Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Robert W. Baird boosted their target price on Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Barclays boosted their target price 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. Two investment 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.