Wedge Capital Management L L P NC Trims Holdings in Mohawk Industries, Inc. $MHK

Key Points

• Wedge Capital Management L L P NC has reduced its stake in Mohawk Industries by 11.8%, owning 23,075 shares valued at approximately $2.42 million after selling 3,098 shares in Q2.
• Several institutional investors, including Citadel and M&T Bank Corp, increased their holdings in Mohawk Industries in Q1, indicating ongoing interest among hedge funds.
• Analysts have set a consensus target price of $141.93 for Mohawk Industries, with ratings ranging from "Buy" to "Strong Buy" following recent performance and projections.

Wedge Capital Management L L P NC cut its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 11.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,075 shares of the company's stock after selling 3,098 shares during the period. Wedge Capital Management L L P NC's holdings in Mohawk Industries were worth $2,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Citadel Investment Advisory Inc. grew its stake in shares of Mohawk Industries by 0.8% during the first quarter. Citadel Investment Advisory Inc. now owns 12,848 shares of the company's stock worth $1,467,000 after purchasing an additional 100 shares during the period. M&T Bank Corp increased its position in Mohawk Industries by 3.8% during the first quarter. M&T Bank Corp now owns 3,315 shares of the company's stock worth $378,000 after buying an additional 122 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Mohawk Industries by 3.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,006 shares of the company's stock worth $457,000 after buying an additional 126 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Mohawk Industries by 4.7% during the 1st quarter. Venturi Wealth Management LLC now owns 2,899 shares of the company's stock worth $331,000 after acquiring an additional 131 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Mohawk Industries by 9.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,635 shares of the company's stock valued at $187,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Analyst Ratings Changes

MHK has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a research report on Monday, July 28th. Robert W. Baird increased their target price on shares of Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Wells Fargo & Company raised their price objective on shares of Mohawk Industries from $120.00 to $140.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Barclays lifted 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 note on Monday, July 28th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned 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 target price of $141.93.

Mohawk Industries Stock Performance

Shares of NYSE:MHK traded down $1.88 during trading on Monday, hitting $128.78. The company's stock had a trading volume of 729,131 shares, compared to its average volume of 722,208. The company has a 50-day moving average of $125.92 and a 200-day moving average of $113.37. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29.

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. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate 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 was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.00 EPS. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Insider Activity

In other news, Director Bernard Thiers sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $128.21, for a total transaction of $1,282,100.00. Following the transaction, the director owned 105,532 shares in the company, valued at $13,530,257.72. This represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Suzanne L. Helen sold 2,200 shares of Mohawk Industries stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $137.19, for a total value of $301,818.00. Following the sale, the insider directly owned 85,493 shares of the company's stock, valued at $11,728,784.67. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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 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.