Lodge Hill Capital LLC Raises Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Lodge Hill Capital LLC grew its stake in Mohawk Industries, Inc. (NYSE:MHK) by 104.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,000 shares of the company’s stock after acquiring an additional 115,000 shares during the period. Mohawk Industries accounts for approximately 6.9% of Lodge Hill Capital LLC’s holdings, making the stock its 3rd largest position. Lodge Hill Capital LLC’s holdings in Mohawk Industries were worth $25,558,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MHK. Quest Partners LLC raised its position in Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock worth $33,000 after acquiring an additional 84 shares in the last quarter. Quarry LP raised its holdings in shares of Mohawk Industries by 70.4% in the 4th quarter. Quarry LP now owns 421 shares of the company’s stock valued at $44,000 after purchasing an additional 174 shares during the period. Headlands Technologies LLC acquired a new stake in Mohawk Industries in the 2nd quarter valued at about $50,000. Quent Capital LLC grew its holdings in Mohawk Industries by 27.2% during the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock worth $65,000 after purchasing an additional 106 shares during the period. Finally, AM Squared Ltd acquired a new position in Mohawk Industries during the second quarter worth approximately $68,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on MHK shares. Robert W. Baird lifted their target price on Mohawk Industries from $132.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and upped their price objective for the company from $120.00 to $177.00 in a report on Friday, July 26th. The Goldman Sachs Group raised their target price on shares of Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Truist Financial upped their price target on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Barclays raised their price objective on shares of Mohawk Industries from $118.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Insider Buying and Selling at Mohawk Industries

In related news, VP Rodney David Patton sold 755 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $162.78, for a total transaction of $122,898.90. Following the sale, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Suzanne L. Helen sold 700 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the sale, the insider now directly owns 121,669 shares in the company, valued at $17,881,692.93. The disclosure for this sale can be found here. Insiders have sold a total of 4,415 shares of company stock valued at $673,387 in the last ninety days. 17.10% of the stock is currently owned by company insiders.

Mohawk Industries Trading Down 0.4 %

Shares of NYSE:MHK opened at $157.60 on Friday. The business’s 50 day simple moving average is $148.03 and its 200 day simple moving average is $127.92. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $164.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.04. The company has a market capitalization of $10.06 billion, a P/E ratio of -24.10, a P/E/G ratio of 1.15 and a beta of 1.37.

Mohawk Industries (NYSE:MHK) last released its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.25. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. Mohawk Industries’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.76 EPS. On average, research analysts anticipate that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

Mohawk Industries Company 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.