Magnetar Financial LLC Buys Shares of 47,007 Mohawk Industries, Inc. $MHK

Magnetar Financial LLC purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 47,007 shares of the company’s stock, valued at approximately $4,928,000.

Several other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. raised its stake in Mohawk Industries by 326.3% in the first 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. MTM Investment Management LLC bought a new stake in shares of Mohawk Industries in the 2nd quarter valued at about $28,000. Brooklyn Investment Group grew its holdings in shares of Mohawk Industries by 2,506.3% in the first quarter. Brooklyn Investment Group now owns 417 shares of the company’s stock worth $48,000 after purchasing an additional 401 shares during the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of Mohawk Industries by 40.6% during the first quarter. Resona Asset Management Co. Ltd. now owns 481 shares of the company’s stock valued at $55,000 after acquiring an additional 139 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Mohawk Industries during the first quarter valued at approximately $149,000. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Trading Up 6.0%

Shares of Mohawk Industries stock opened at $109.90 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 2.25. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $146.93. The company has a market cap of $6.79 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 2.38 and a beta of 1.31. The firm has a 50-day simple moving average of $120.44 and a two-hundred day simple moving average of $116.40.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, October 23rd. The company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.73 billion. Mohawk Industries had a net margin of 3.93% and a return on equity of 6.97%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 earnings per share. Mohawk Industries has set its Q4 2025 guidance at 1.900-2.000 EPS. As a group, equities analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MHK. Evercore ISI reduced their target price on shares of Mohawk Industries from $124.00 to $118.00 and set an “in-line” rating on the stock in a research report on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Mohawk Industries in a report on Friday, October 31st. Barclays lowered their price objective on Mohawk Industries from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, October 27th. Robert W. Baird lifted their price objective on shares of Mohawk Industries from $130.00 to $142.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $123.00 price objective (up from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.00.

Insider Activity

In related news, insider Suzanne L. Helen sold 2,200 shares of Mohawk Industries stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $137.19, for a total transaction of $301,818.00. Following the completion of the sale, the insider owned 85,493 shares in the company, valued at approximately $11,728,784.67. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 6,406 shares of company stock worth $793,753. Insiders own 17.40% of the company’s stock.

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.