Townsend & Associates Inc Sells 131,375 Shares of Mohawk Industries, Inc. $MHK

Key Points

• Townsend & Associates Inc sold 131,375 shares of Mohawk Industries, reducing its stake by 50.2% during Q2, resulting in ownership of approximately 130,213 shares worth $13.65 million.
• CEO Jeffrey S. Lorberbaum sold 16,000 shares at an average price of $120.81, leading to a 32.26% decrease in his ownership, while other insiders also engaged in significant stock sales.
• Analysts at Wells Fargo and JPMorgan have raised their price targets for Mohawk Industries, indicating a consensus price target of $140.54, reflecting optimistic market expectations.

Townsend & Associates Inc reduced its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 50.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,213 shares of the company's stock after selling 131,375 shares during the quarter. Townsend & Associates Inc owned about 0.21% of Mohawk Industries worth $13,652,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Federated Hermes Inc. grew its stake in shares of Mohawk Industries by 326.3% during the first quarter. Federated Hermes Inc. now owns 243 shares of the company's stock valued at $28,000 after purchasing an additional 186 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Mohawk Industries by 2,506.3% during the first quarter. Brooklyn Investment Group now owns 417 shares of the company's stock valued at $48,000 after purchasing an additional 401 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of Mohawk Industries by 40.6% during the first 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 during the last quarter. Allworth Financial LP grew its stake in shares of Mohawk Industries by 36.2% during the first quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after purchasing an additional 158 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Mohawk Industries in the first quarter valued at approximately $149,000. 78.98% of the stock is owned by institutional investors.

Insider Activity at Mohawk Industries

In related news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 33,600 shares in the company, valued at $4,059,216. This trade represents a 32.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 2,200 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $137.19, for a total transaction of $301,818.00. Following the sale, the insider owned 85,493 shares in the company, valued at approximately $11,728,784.67. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,791 shares of company stock valued at $4,357,225. Insiders own 17.40% of the company's stock.

Mohawk Industries Trading Up 0.4%

MHK opened at $127.44 on Monday. The firm's fifty day moving average is $129.50 and its two-hundred day moving average is $114.89. 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 firm has a market cap of $7.92 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 3.82 and a beta of 1.29. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its 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. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the business posted $3.00 earnings per share. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Mohawk Industries from $120.00 to $140.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. 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 report on Tuesday, July 29th. Barclays increased their price objective on shares of Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Weiss Ratings restated a "hold (c)" rating on shares of Mohawk Industries in a report on Wednesday, October 8th. Finally, Evercore ISI cut their price objective on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a report on Monday, July 28th. Two equities research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $140.54.

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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