VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.62 Million in Mohawk Industries, Inc. $MHK

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,000 shares of the company's stock, valued at approximately $2,621,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Mohawk Industries by 13.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,915 shares of the company's stock worth $787,000 after acquiring an additional 831 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Mohawk Industries by 78.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,574 shares of the company's stock worth $408,000 after acquiring an additional 1,566 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 worth $414,017,000 after acquiring an additional 410,388 shares during the last quarter. Truist Financial Corp boosted its position in shares of Mohawk Industries by 7.9% during the first quarter. Truist Financial Corp now owns 403,936 shares of the company's stock worth $46,121,000 after acquiring an additional 29,480 shares during the last quarter. Finally, QSM Asset Management Ltd boosted its position in shares of Mohawk Industries by 25.0% during the first quarter. QSM Asset Management Ltd now owns 63,566 shares of the company's stock worth $7,160,000 after acquiring an additional 12,700 shares during the last quarter. Institutional investors own 78.98% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MHK. Raymond James Financial restated a "strong-buy" rating and set a $150.00 target price (up previously from $140.00) on shares of Mohawk Industries in a research report on Tuesday. Vertical Research began coverage on shares of Mohawk Industries in a research report on Monday. They set a "buy" rating for the company. Barclays upped their target price 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 increased their price objective on shares of Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Mohawk Industries in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $139.38.

Mohawk Industries Price Performance

MHK stock opened at $131.46 on Wednesday. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $155.56. The company has a quick ratio of 1.18, a current ratio of 2.13 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $129.78 and a two-hundred day simple moving average of $115.17. The firm has a market capitalization of $8.17 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 3.85 and a beta of 1.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.77 EPS for the quarter, beating 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 business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the business earned $3.00 earnings per share. Mohawk Industries's quarterly revenue was up .0% compared to the same quarter last year. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bernard Thiers sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were 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 trade represents a 8.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rodney David Patton sold 700 shares of the firm's 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 sale, the vice president owned 17,804 shares of the company's stock, valued at $2,279,802.20. This trade represents a 3.78% 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 90 days. 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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