Mohawk Industries, Inc. $MHK Stake Lifted by QSM Asset Management Ltd

Key Points

• QSM Asset Management Ltd increased its stake in Mohawk Industries by 18.9%, now holding approximately 0.12% of the company valued at $7.91 million.
• Insider activity shows significant sales, with Director Bernard Thiers and CEO Jeffrey S. Lorberbaum selling shares totaling $4.36 million in the last 90 days.
• Wall Street analysts have raised price targets for Mohawk Industries, establishing a consensus target price of $141.93, with an overall rating of "Moderate Buy."

QSM Asset Management Ltd raised its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 18.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,609 shares of the company's stock after acquiring an additional 12,043 shares during the quarter. Mohawk Industries makes up 7.3% of QSM Asset Management Ltd's holdings, making the stock its 6th biggest position. QSM Asset Management Ltd owned approximately 0.12% of Mohawk Industries worth $7,914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Citadel Investment Advisory Inc. lifted its stake in shares of Mohawk Industries by 0.8% during the 1st quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company's stock valued at $1,467,000 after buying an additional 100 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Mohawk Industries by 3.8% during the 1st quarter. M&T Bank Corp now owns 3,315 shares of the company's stock valued at $378,000 after buying an additional 122 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Mohawk Industries by 3.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company's stock valued at $457,000 after buying an additional 126 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Mohawk Industries by 4.7% during the 1st quarter. Venturi Wealth Management LLC now owns 2,899 shares of the company's stock valued at $331,000 after buying an additional 131 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Mohawk Industries by 9.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,635 shares of the company's stock valued at $187,000 after buying an additional 136 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mohawk Industries

In other news, Director Bernard Thiers sold 10,000 shares of the firm's stock in a transaction dated 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 directly owned 105,532 shares of the company's stock, valued at approximately $13,530,257.72. This trade represents a 8.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the firm'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 completion of the sale, the chief executive officer directly owned 33,600 shares of the company's stock, valued at approximately $4,059,216. This represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,791 shares of company stock valued at $4,357,225. 17.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Wells Fargo & Company increased their target price on shares of Mohawk Industries from $120.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 11th. Evercore ISI lowered their target price on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a research note on Monday, July 28th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Finally, Barclays increased their target price on shares of Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.93.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock opened at $128.78 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 2.13 and a debt-to-equity ratio of 0.21. The firm has a market cap of $8.00 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. The company's fifty day simple moving average is $125.92 and its two-hundred day simple moving average is $113.37. 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 announced its earnings results on Thursday, July 24th. The company reported $2.77 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 company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the company earned $3.00 earnings per share. The firm'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. As a group, equities analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

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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