Mohawk Industries, Inc. $MHK Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,946 shares of the company’s stock after selling 759 shares during the period. Ritholtz Wealth Management’s holdings in Mohawk Industries were worth $1,043,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in shares of Mohawk Industries by 326.3% in the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company’s stock valued at $28,000 after purchasing an additional 186 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of Mohawk Industries by 2,506.3% in the 1st quarter. Brooklyn Investment Group now owns 417 shares of the company’s stock valued at $48,000 after purchasing an additional 401 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its stake in shares of Mohawk Industries by 40.6% in the 1st 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 in the last quarter. Allworth Financial LP lifted its stake in shares of Mohawk Industries by 36.2% in the 1st quarter. Allworth Financial LP now owns 595 shares of the company’s stock valued at $65,000 after purchasing an additional 158 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Mohawk Industries in the 1st quarter valued at about $149,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the company’s 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 transaction, the chief executive officer directly owned 33,600 shares of the company’s stock, valued at $4,059,216. This represents a 32.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Suzanne L. Helen sold 2,500 shares of the company’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 in the company, valued at approximately $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. Company insiders own 17.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Mohawk Industries from $111.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, July 28th. Evercore ISI reduced their price objective on Mohawk Industries from $124.00 to $123.00 and set an “in-line” rating on the stock in a research note on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mohawk Industries in a research note on Wednesday, October 8th. Robert W. Baird boosted 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. Finally, Wells Fargo & Company boosted 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 research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.54.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $127.44 on Friday. The stock’s 50 day moving average price is $129.50 and its 200 day moving average price is $114.86. The firm has a market capitalization of $7.92 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.62 by $0.15. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the company posted $3.00 EPS. Mohawk Industries’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, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

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.