Mohawk Industries, Inc. $MHK Shares Purchased by Lodge Hill Capital LLC

Lodge Hill Capital LLC raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 302,480 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Mohawk Industries comprises 4.4% of Lodge Hill Capital LLC’s portfolio, making the stock its 7th largest holding. Lodge Hill Capital LLC owned about 0.50% of Mohawk Industries worth $29,782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rexford Capital Inc. boosted its stake in Mohawk Industries by 10.1% during the fourth quarter. Rexford Capital Inc. now owns 1,087 shares of the company’s stock valued at $119,000 after buying an additional 100 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Mohawk Industries by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 17,254 shares of the company’s stock worth $2,224,000 after acquiring an additional 100 shares during the period. Sequoia Financial Advisors LLC raised its position in Mohawk Industries by 1.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company’s stock worth $560,000 after acquiring an additional 101 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Mohawk Industries by 7.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,569 shares of the company’s stock worth $171,000 after acquiring an additional 105 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Mohawk Industries by 20.7% in the 4th quarter. Signaturefd LLC now owns 671 shares of the company’s stock valued at $73,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MHK shares. Wells Fargo & Company lowered their price objective on shares of Mohawk Industries from $125.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Bank of America restated a “neutral” rating and set a $122.00 target price (down from $149.00) on shares of Mohawk Industries in a report on Monday, April 20th. Robert W. Baird decreased their price target on shares of Mohawk Industries from $118.00 to $112.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Truist Financial dropped their price target 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, Evercore set a $110.00 price objective on Mohawk Industries in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Mohawk Industries presently has an average rating of “Hold” and an average target price of $124.42.

Mohawk Industries Trading Down 3.3%

Shares of MHK opened at $113.22 on Thursday. The business’s 50-day moving average price is $110.51 and its 200 day moving average price is $111.35. The company has a current ratio of 2.16, a quick ratio of 1.23 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $6.90 billion, a P/E ratio of 16.97, a P/E/G ratio of 2.90 and a beta of 1.18. Mohawk Industries, Inc. has a 1-year low of $92.99 and a 1-year high of $143.13.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.90 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts expect that Mohawk Industries, Inc. will post 8.67 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 16,600 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $112.97, for a total transaction of $1,875,302.00. Following the sale, the insider owned 14,132 shares in the company, valued at $1,596,492.04. The trade was a 54.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $112.08, for a total transaction of $504,360.00. Following the completion of the sale, the chief executive officer owned 20,000 shares of the company’s stock, valued at approximately $2,241,600. This trade represents a 18.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 40,186 shares of company stock worth $4,460,321 in the last 90 days. 17.90% of the stock is owned by company insiders.

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.