Pallas Capital Advisors LLC Purchases New Holdings in Mohawk Industries, Inc. $MHK

Pallas Capital Advisors LLC bought a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,172 shares of the company's stock, valued at approximately $333,000.

Several other hedge funds have also recently modified their holdings of MHK. Mirae Asset Global Investments Co. Ltd. lifted its position in Mohawk Industries by 13.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,915 shares of the company's stock valued at $787,000 after acquiring an additional 831 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Mohawk Industries by 78.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,574 shares of the company's stock valued at $408,000 after buying an additional 1,566 shares during the period. JPMorgan Chase & Co. grew its position 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 buying an additional 410,388 shares during the period. Truist Financial Corp grew its position in Mohawk Industries by 7.9% during the first quarter. Truist Financial Corp now owns 403,936 shares of the company's stock valued at $46,121,000 after buying an additional 29,480 shares during the period. Finally, QSM Asset Management Ltd grew its position in shares of Mohawk Industries by 25.0% in the first quarter. QSM Asset Management Ltd now owns 63,566 shares of the company's stock valued at $7,160,000 after purchasing an additional 12,700 shares during the period. Hedge funds and other institutional investors own 78.98% of the company's stock.

Analysts Set New Price Targets

MHK has been the topic of several research reports. Wells Fargo & Company raised their price target 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. Robert W. Baird lifted their target price on shares of Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Barclays lifted 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. JPMorgan Chase & Co. lifted their target price on shares of Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Evercore ISI dropped their price target on shares of 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. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $141.93.

Mohawk Industries Stock Performance

Shares of MHK opened at $130.35 on Monday. 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 stock has a market capitalization of $8.10 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.84 and a beta of 1.25. The company's fifty day moving average is $125.59 and its two-hundred day moving average is $113.29. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.15. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The company had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the previous year, the company posted $3.00 EPS. Mohawk Industries's 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. On average, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Insider Activity at Mohawk Industries

In related news, Director Bernard Thiers sold 10,000 shares of the 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 sale, the director directly owned 105,532 shares of the company's stock, valued at approximately $13,530,257.72. This represents a 8.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Rodney David Patton sold 700 shares of the company's stock in a transaction dated 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 transaction, the vice president owned 17,804 shares in the company, valued at approximately $2,279,802.20. This trade represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,791 shares of company stock valued at $4,357,225. Company insiders own 17.40% of the company's stock.

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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