Sequoia Financial Advisors LLC Buys New Holdings in Mohawk Industries, Inc. $MHK

Sequoia Financial Advisors LLC bought a new stake in Mohawk Industries, Inc. (NYSE:MHK) during the second quarter, Holdings Channel reports. The fund bought 3,216 shares of the company’s stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MHK. Alyeska Investment Group L.P. boosted its holdings in Mohawk Industries by 436.4% in the first quarter. Alyeska Investment Group L.P. now owns 756,030 shares of the company’s stock valued at $86,324,000 after acquiring an additional 615,095 shares during the last quarter. Sound Shore Management Inc. CT purchased a new position in Mohawk Industries in the first quarter valued at about $61,159,000. JPMorgan Chase & Co. raised its position in Mohawk Industries by 12.8% in the first quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company’s stock valued at $414,017,000 after purchasing an additional 410,388 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Mohawk Industries by 677.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 380,770 shares of the company’s stock valued at $43,476,000 after purchasing an additional 331,800 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Mohawk Industries by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,964,190 shares of the company’s stock valued at $338,444,000 after purchasing an additional 213,429 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MHK shares. Wells Fargo & Company raised their price objective on Mohawk Industries from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Barclays raised their price objective on Mohawk Industries from $111.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, July 28th. Vertical Research started coverage on Mohawk Industries in a research report on Monday. They issued a “buy” rating on the stock. Evercore ISI dropped their target price 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. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $150.00 target price (up from $140.00) on shares of Mohawk Industries in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.38.

Insiders Place Their Bets

In other news, Director Bernard Thiers sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $128.21, for a total transaction of $1,282,100.00. Following the completion of the transaction, the director directly owned 105,532 shares in the company, valued at approximately $13,530,257.72. The trade was a 8.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 stock was sold at an average price of $120.60, for a total value of $301,500.00. Following the completion of the sale, the insider owned 91,084 shares of the company’s stock, valued at $10,984,730.40. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,791 shares of company stock valued at $4,357,225. Corporate insiders own 17.40% of the company’s stock.

Mohawk Industries Stock Up 2.5%

Shares of Mohawk Industries stock opened at $131.46 on Wednesday. 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 firm has a market cap of $8.17 billion, a P/E ratio of 17.48, a P/E/G ratio of 3.85 and a beta of 1.29. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $155.56. The business has a 50-day moving average price of $129.78 and a 200 day moving average price of $115.17.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 24th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.15. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.Mohawk Industries’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.00 earnings per share. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. On average, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

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.