Mohawk Industries, Inc. $MHK Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its holdings in Mohawk Industries by 11.1%, selling 2,373 shares during the 1st quarter, leaving it with 19,069 shares valued at $2,177,000.
• Several large investors, including Federated Hermes and Brooklyn Investment Group, significantly increased their stakes in Mohawk Industries, indicating growing institutional interest.
• Analysts have recently raised their price targets for Mohawk Industries, with consensus ratings shifting to a "Moderate Buy" and a target price of $140.14.

Rafferty Asset Management LLC reduced its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,069 shares of the company's stock after selling 2,373 shares during the quarter. Rafferty Asset Management LLC's holdings in Mohawk Industries were worth $2,177,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MHK. Sound Shore Management Inc. CT purchased a new position in shares of Mohawk Industries during the first quarter valued at $61,159,000. JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 410,388 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Mohawk Industries by 66.2% during the 4th quarter. Millennium Management LLC now owns 898,322 shares of the company's stock worth $107,017,000 after purchasing an additional 357,687 shares during the last quarter. GAMMA Investing LLC boosted its position in Mohawk Industries by 12,165.8% during the first quarter. GAMMA Investing LLC now owns 310,570 shares of the company's stock valued at $35,461,000 after purchasing an additional 308,038 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Mohawk Industries by 394.5% in the fourth quarter. Two Sigma Investments LP now owns 313,547 shares of the company's stock worth $37,353,000 after purchasing an additional 250,145 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company's stock.

Mohawk Industries Stock Performance

Shares of NYSE:MHK traded up $3.66 during trading on Thursday, hitting $134.24. The stock had a trading volume of 210,654 shares, compared to its average volume of 803,402. The company has a quick ratio of 1.18, a current ratio of 2.13 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a 12-month low of $96.24 and a 12-month high of $164.29. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The stock has a 50-day simple moving average of $119.22 and a two-hundred day simple moving average of $111.83.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share for the quarter, topping 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 the consensus estimate of $2.76 billion. During the same quarter in the prior year, the company earned $3.00 EPS. Mohawk Industries's quarterly revenue 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, equities research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 700 shares of Mohawk Industries stock in a transaction dated Tuesday, August 19th. The stock was 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 stock was 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,500 shares of company stock worth $3,905,221. 17.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MHK shares. Barclays lifted their price objective on shares of Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a research 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. Royal Bank Of Canada reiterated a "sector perform" rating and set a $123.00 price objective (up previously from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Evercore ISI lowered their price objective on 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. Finally, 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 note on Tuesday, July 29th. Two equities research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.14.

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.