Woodline Partners LP Makes New Investment in Mohawk Industries, Inc. $MHK

Key Points

• Woodline Partners LP acquired 156,592 shares of Mohawk Industries, Inc., valued at approximately $17.88 million, increasing its ownership to 0.25% as of the latest SEC filing.
• Several other institutional investors have also increased their stakes in Mohawk Industries in Q1, with 78.98% of the stock currently owned by institutional investors and hedge funds.
• Analysts have given Mohawk Industries an average rating of "Moderate Buy" with a consensus target price of $140.14, following various price revisions and ratings updates from major financial institutions.

Woodline Partners LP acquired a new stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 156,592 shares of the company's stock, valued at approximately $17,880,000. Woodline Partners LP owned about 0.25% of Mohawk Industries as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MBB Public Markets I LLC bought a new stake in Mohawk Industries in the first quarter valued at about $307,000. Goldman Sachs Group Inc. increased its holdings in Mohawk Industries by 14.1% in the first quarter. Goldman Sachs Group Inc. now owns 344,797 shares of the company's stock valued at $39,369,000 after buying an additional 42,655 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in Mohawk Industries by 7.3% in the first quarter. UniSuper Management Pty Ltd now owns 13,296 shares of the company's stock valued at $1,518,000 after buying an additional 903 shares during the last quarter. Select Equity Group L.P. increased its holdings in Mohawk Industries by 3.4% in the first quarter. Select Equity Group L.P. now owns 1,547,651 shares of the company's stock valued at $176,711,000 after buying an additional 50,232 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new stake in Mohawk Industries in the first quarter valued at about $6,397,000. 78.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on MHK shares. Barclays boosted their price objective on Mohawk Industries from $111.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Robert W. Baird increased their price target on Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Evercore ISI dropped their price target on 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. Royal Bank Of Canada reiterated a "sector perform" rating and set a $123.00 price target (up from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. Finally, Wells Fargo & Company increased their price target on Mohawk Industries from $120.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.93.

Mohawk Industries Stock Performance

MHK stock traded down $1.29 on Tuesday, reaching $135.80. The company's stock had a trading volume of 66,290 shares, compared to its average volume of 798,372. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The company has a market capitalization of $8.44 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 2.96 and a beta of 1.25. The firm has a fifty day moving average of $123.93 and a two-hundred day moving average of $112.83. 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 (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) 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 business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the company posted $3.00 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. As a group, analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 value 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 $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 available through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $120.81, for a total value of $1,932,960.00. Following the completion of the transaction, the chief executive officer directly owned 33,600 shares of the company's stock, valued at $4,059,216. This trade represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,791 shares of company stock valued at $4,357,225. 17.40% of the stock is owned by corporate insiders.

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.