Nuveen LLC Takes Position in Mohawk Industries, Inc. $MHK

Key Points

• Nuveen LLC has made a new investment of approximately $14.93 million in Mohawk Industries, acquiring 130,725 shares during the first quarter.
• Mohawk Industries reported earnings of $2.77 per share for the most recent quarter, exceeding analysts' expectations of $2.62, while net revenue reached $2.80 billion.
• Analysts have mixed ratings for Mohawk Industries, with a current average rating of "Moderate Buy" and a price target averaging $140.14.

Nuveen LLC bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 130,725 shares of the company's stock, valued at approximately $14,926,000. Nuveen LLC owned approximately 0.21% of Mohawk Industries as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Citadel Investment Advisory Inc. increased its position 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 worth $1,467,000 after purchasing an additional 100 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Mohawk Industries by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 25,659 shares of the company's stock worth $3,054,000 after purchasing an additional 120 shares in the last quarter. M&T Bank Corp increased its position 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 worth $378,000 after purchasing an additional 122 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position 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 worth $457,000 after purchasing an additional 126 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position 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 worth $331,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Insider Buying and Selling at Mohawk Industries

In related news, VP Rodney David Patton sold 700 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $128.05, for a total transaction of $89,635.00. Following the completion of the sale, the vice president directly owned 17,804 shares of the company's stock, valued at $2,279,802.20. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 33,600 shares of the company's stock, valued at approximately $4,059,216. This trade represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,700 shares of company stock valued at $3,798,885. 17.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed 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. Barclays raised their price target on shares of Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Robert W. Baird boosted their price objective on shares of Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. lifted their target price on Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen downgraded Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Mohawk Industries presently has a consensus rating of "Moderate Buy" and an average price target of $140.14.

Mohawk Industries Trading Up 7.3%

Shares of MHK traded up $9.0040 on Friday, reaching $133.1740. 1,064,183 shares of the company's stock were exchanged, compared to its average volume of 983,350. 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 stock has a market capitalization of $8.27 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 2.90 and a beta of 1.28. The business has a 50 day moving average price of $114.25 and a two-hundred day moving average price of $111.09. 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 posted its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.15. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. Mohawk Industries's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.00 earnings per share. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current 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.