Raymond James Financial Inc. Acquires 55,041 Shares of Mohawk Industries, Inc. $MHK

Key Points

• Raymond James Financial Inc. increased its stake in Mohawk Industries by 134.1%, now owning 96,095 shares valued at approximately $10.97 million.
• A number of institutional investors have also made significant adjustments to their positions in Mohawk Industries, with notable increases from GAMMA Investing LLC (12,165.8%) and Two Sigma Investments LP (394.5%).
• Wall Street analysts have raised their price targets for Mohawk Industries, with JPMorgan Chase & Co. increasing theirs to $140.00 and the consensus target price set at $140.14.

Raymond James Financial Inc. raised its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 134.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,095 shares of the company's stock after buying an additional 55,041 shares during the quarter. Raymond James Financial Inc. owned about 0.15% of Mohawk Industries worth $10,972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. increased its stake in Mohawk Industries by 326.3% in the first quarter. Federated Hermes Inc. now owns 243 shares of the company's stock valued at $28,000 after acquiring an additional 186 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Mohawk Industries by 40.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 481 shares of the company's stock valued at $55,000 after purchasing an additional 139 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Mohawk Industries by 36.2% in the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after purchasing an additional 158 shares in the last quarter. Mufg Securities Americas Inc. bought a new position in shares of Mohawk Industries in the 4th quarter valued at $92,000. Finally, Versant Capital Management Inc increased its stake in shares of Mohawk Industries by 165.9% in the 1st quarter. Versant Capital Management Inc now owns 1,428 shares of the company's stock valued at $163,000 after purchasing an additional 891 shares during the last quarter. Institutional investors own 78.98% of the company's stock.

Mohawk Industries Trading Up 2.6%

NYSE:MHK traded up $3.35 during trading hours on Thursday, hitting $133.93. 169,251 shares of the company were exchanged, compared to its average volume of 803,255. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The company has a fifty day simple moving average of $119.22 and a 200 day simple moving average of $111.83. The company has a current ratio of 2.13, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

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, beating the consensus estimate 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 analysts' expectations of $2.76 billion. During the same quarter in the prior year, the firm posted $3.00 earnings per share. The business'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. Sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Activity

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the completion of the transaction, the chief executive officer owned 33,600 shares in the company, valued at approximately $4,059,216. This trade represents a 32.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bernard Thiers sold 10,000 shares of the business'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 transaction of $1,282,100.00. Following the completion of the transaction, the director owned 105,532 shares in the company, valued at $13,530,257.72. This trade represents a 8.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,500 shares of company stock worth $3,905,221. 17.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on MHK. Wells Fargo & Company upped their price objective on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Robert W. Baird increased their target price 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 restated a "sector perform" rating and issued a $123.00 price target (up from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Barclays upped 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Two investment 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's stock. According to data from MarketBeat.com, Mohawk Industries presently has an average rating of "Moderate Buy" and a consensus target price of $140.14.

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.