Meeder Asset Management Inc. cut its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK – Free Report) by 82.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,073 shares of the company’s stock after selling 43,972 shares during the quarter. Meeder Asset Management Inc.’s holdings in Mohawk Industries were worth $893,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS Group AG lifted its position in Mohawk Industries by 6.1% in the fourth quarter. UBS Group AG now owns 227,068 shares of the company’s stock valued at $24,819,000 after buying an additional 13,090 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Mohawk Industries by 93.3% during the fourth quarter. State of Alaska Department of Revenue now owns 42,941 shares of the company’s stock valued at $4,693,000 after acquiring an additional 20,728 shares during the last quarter. Tejara Capital Ltd purchased a new stake in shares of Mohawk Industries in the 4th quarter valued at approximately $2,514,000. Olstein Capital Management L.P. lifted its holdings in shares of Mohawk Industries by 23.9% in the 4th quarter. Olstein Capital Management L.P. now owns 68,750 shares of the company’s stock worth $7,514,000 after acquiring an additional 13,250 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Mohawk Industries by 768.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 32,064 shares of the company’s stock worth $3,505,000 after acquiring an additional 28,373 shares during the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on MHK. Weiss Ratings downgraded shares of Mohawk Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft set a $109.00 price target on Mohawk Industries in a research note on Tuesday, May 5th. Barclays raised their price target on Mohawk Industries from $96.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Truist Financial cut their price objective on Mohawk Industries from $155.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Finally, Zacks Research raised Mohawk Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, June 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Mohawk Industries currently has a consensus rating of “Hold” and an average price target of $124.42.
Insider Buying and Selling at Mohawk Industries
In other news, CEO Jeffrey S. Lorberbaum sold 4,500 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $112.08, for a total value of $504,360.00. Following the sale, the chief executive officer directly owned 20,000 shares in the company, valued at approximately $2,241,600. This trade represents a 18.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzanne L. Helen sold 16,600 shares of Mohawk Industries stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $112.97, for a total value of $1,875,302.00. Following the completion of the transaction, the insider owned 14,132 shares of the company’s stock, valued at approximately $1,596,492.04. This trade represents a 54.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 40,186 shares of company stock worth $4,460,321. Insiders own 17.90% of the company’s stock.
Mohawk Industries Trading Down 2.9%
Shares of MHK stock opened at $108.24 on Tuesday. Mohawk Industries, Inc. has a fifty-two week low of $92.99 and a fifty-two week high of $143.13. The company has a 50 day moving average price of $108.44 and a 200 day moving average price of $111.25. The stock has a market capitalization of $6.60 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 2.75 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.23 and a current ratio of 2.16.
Mohawk Industries (NYSE:MHK – Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. Mohawk Industries had a net margin of 3.77% and a return on equity of 6.96%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the business earned $1.52 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Mohawk Industries has set its Q2 2026 guidance at 2.500-2.600 EPS. Equities research analysts predict that Mohawk Industries, Inc. will post 8.71 EPS for the current fiscal year.
Mohawk Industries Profile
Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.
The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.
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