Mohawk Industries, Inc. $MHK Shares Bought by Wilsey Asset Management Inc.

Key Points

• Wilsey Asset Management Inc. increased its stake in Mohawk Industries by 4.4%, holding 214,933 shares valued at approximately $22.5 million by the end of the last reporting period.
• CEO Jeffrey S. Lorberbaum sold 16,000 shares of Mohawk Industries for nearly $1.93 million, reducing his ownership by 32.26% to 33,600 shares.
• Mohawk Industries reported earnings per share (EPS) of $2.77 for the latest quarter, exceeding analysts' estimates, with revenue rising slightly compared to the previous year.

Wilsey Asset Management Inc. grew its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 214,933 shares of the company's stock after buying an additional 8,981 shares during the quarter. Mohawk Industries accounts for approximately 4.2% of Wilsey Asset Management Inc.'s portfolio, making the stock its 15th biggest position. Wilsey Asset Management Inc. owned approximately 0.34% of Mohawk Industries worth $22,534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MHK. Citadel Investment Advisory Inc. lifted its stake 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 purchasing an additional 100 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Mohawk Industries by 3.8% in the first quarter. M&T Bank Corp now owns 3,315 shares of the company's stock valued at $378,000 after purchasing an additional 122 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Mohawk Industries by 3.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company's stock valued at $457,000 after purchasing an additional 126 shares during the period. Venturi Wealth Management LLC grew 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 during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Mohawk Industries by 9.1% during the first quarter. Exchange Traded Concepts LLC now owns 1,635 shares of the company's stock worth $187,000 after acquiring an additional 136 shares during the period. Hedge funds and other institutional investors own 78.98% of the company's stock.

Insider Transactions at Mohawk Industries

In related news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the transaction, the chief executive officer directly owned 33,600 shares in the company, valued at $4,059,216. The trade was a 32.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bernard Thiers sold 10,000 shares of the company's stock in a transaction that occurred on 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 sale, the director owned 105,532 shares in the company, valued at approximately $13,530,257.72. This represents a 8.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,791 shares of company stock valued at $4,357,225. 17.40% of the stock is currently owned by insiders.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $127.70 on Wednesday. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The company has a current ratio of 2.13, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 2.80 and a beta of 1.25. The stock's fifty day simple moving average is $126.31 and its 200-day simple moving average is $113.47.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter last year, the firm earned $3.00 earnings per share. The business's revenue for the quarter was up .0% on a year-over-year basis. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. On average, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MHK has been the topic of a number of research analyst reports. 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. 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 research report on Monday, July 28th. Wells Fargo & Company raised their price objective on Mohawk Industries from $120.00 to $140.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Robert W. Baird raised their price objective on Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Barclays increased their target price on Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Two investment 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $141.93.

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.

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