Patton Fund Management Inc. Buys Shares of 2,060 Mohawk Industries, Inc. $MHK

Key Points

• Patton Fund Management Inc. has acquired a new stake in Mohawk Industries, buying 2,060 shares valued at approximately $216,000 in the second quarter.
• Several hedge funds have increased their stakes in Mohawk Industries, with 78.98% of the stock currently owned by institutional investors.
• Equities analysts have set a range of new price targets for Mohawk Industries, with the average target price now at $141.93 and an overall rating of "Moderate Buy."

Patton Fund Management Inc. bought a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,060 shares of the company's stock, valued at approximately $216,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in Mohawk Industries by 326.3% during the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company's stock valued at $28,000 after acquiring an additional 186 shares in the last quarter. Brooklyn Investment Group increased its holdings in Mohawk Industries by 2,506.3% during the 1st quarter. Brooklyn Investment Group now owns 417 shares of the company's stock valued at $48,000 after acquiring an additional 401 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in Mohawk Industries by 40.6% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 481 shares of the company's stock valued at $55,000 after acquiring an additional 139 shares in the last quarter. Allworth Financial LP increased its holdings in Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after acquiring an additional 158 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Mohawk Industries during the 1st quarter valued at about $149,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on MHK shares. 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 report on Monday, July 28th. Robert W. Baird lifted their price target on shares of Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. JPMorgan Chase & Co. lifted their price target on shares of Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Evercore ISI lowered 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 report on Monday, July 28th. Finally, Barclays lifted their price target on shares of Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, Mohawk Industries presently has an average rating of "Moderate Buy" and an average target price of $141.93.

Mohawk Industries Stock Down 0.4%

Shares of NYSE:MHK opened at $128.03 on Tuesday. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The company's fifty day moving average is $127.70 and its two-hundred day moving average is $113.87. 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 (NYSE:MHK - Get Free Report) last issued its 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 company had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The firm's revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.00 earnings per share. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Activity

In other news, insider Suzanne L. Helen sold 2,500 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $120.60, for a total transaction of $301,500.00. Following the completion of the transaction, the insider owned 91,084 shares in the company, valued at approximately $10,984,730.40. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bernard Thiers sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $128.21, for a total transaction of $1,282,100.00. Following the transaction, the director owned 105,532 shares of the company's stock, valued at $13,530,257.72. This represents a 8.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,791 shares of company stock worth $4,357,225 over the last ninety days. Insiders own 17.40% of the company's stock.

About Mohawk Industries

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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