Sequoia Financial Advisors LLC Acquires New Stake in Mohawk Industries, Inc. $MHK

Key Points

• Sequoia Financial Advisors LLC has acquired a new stake in Mohawk Industries, Inc., purchasing 3,216 shares valued at approximately $337,000 in the 2nd quarter.
• Mohawk Industries stock has increased by 2.5%, with the current price at $131.46, and it has a twelve month high of $155.56.
• Analysts have shown a positive outlook, with several raising their price targets; Wells Fargo increased it to $140.00 and Raymond James set it at $150.00, while the stock holds an average rating of "Moderate Buy."

Sequoia Financial Advisors LLC acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,216 shares of the company's stock, valued at approximately $337,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Mohawk Industries by 12.8% during the 1st quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company's stock worth $414,017,000 after purchasing an additional 410,388 shares during the period. Dimensional Fund Advisors LP increased its holdings in Mohawk Industries by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,964,190 shares of the company's stock worth $338,444,000 after purchasing an additional 213,429 shares during the period. Invesco Ltd. increased its holdings in Mohawk Industries by 5.6% during the 1st quarter. Invesco Ltd. now owns 1,821,951 shares of the company's stock worth $208,030,000 after purchasing an additional 96,568 shares during the period. Ariel Investments LLC increased its holdings in Mohawk Industries by 3.4% during the 1st quarter. Ariel Investments LLC now owns 1,743,574 shares of the company's stock worth $199,081,000 after purchasing an additional 57,391 shares during the period. Finally, Select Equity Group L.P. increased its holdings in Mohawk Industries by 3.4% during the 1st quarter. Select Equity Group L.P. now owns 1,547,651 shares of the company's stock worth $176,711,000 after purchasing an additional 50,232 shares during the period. Hedge funds and other institutional investors own 78.98% of the company's stock.

Mohawk Industries Stock Up 2.5%

Mohawk Industries stock opened at $131.46 on Wednesday. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $155.56. The stock has a 50 day moving average of $129.78 and a two-hundred day moving average of $115.17. 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 $8.17 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 3.85 and a beta of 1.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data 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. 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 period last year, the firm earned $3.00 EPS. The firm's revenue for the quarter was up .0% on a year-over-year basis. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. As a group, research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Mohawk Industries in a report on Wednesday, October 8th. Wells Fargo & Company upped their price target on Mohawk Industries from $120.00 to $140.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. JPMorgan Chase & Co. upped their price objective on Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $150.00 price objective (up from $140.00) on shares of Mohawk Industries in a research report on Tuesday. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $139.38.

Insiders Place Their Bets

In other news, VP Rodney David Patton sold 700 shares of the stock in a transaction that occurred on 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 directly owned 17,804 shares of the company's stock, valued at approximately $2,279,802.20. This represents a 3.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $120.60, for a total value of $301,500.00. Following the completion of the transaction, the insider directly owned 91,084 shares of the company's stock, valued at $10,984,730.40. The trade was a 2.67% 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. Corporate 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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