10 Best Land and Timber Stocks to Buy According to Hedge Funds

2. Mohawk Industries Inc. (NYSE:MHK)

Number of Hedge Fund Holders: 41

Mohawk Industries Inc. (NYSE:MHK) is a leading name in the flooring industry, supplying products for residential and commercial spaces worldwide. The company’s reach extends across continents, with operations in the United States, Europe, Latin America, and beyond.

In April 2024, Mohawk Industries Inc. (NYSE:MHK) announced its first-quarter results for 2024. The company reported earnings per share of $1.86, beating the estimates of $1.68. Mohawk Industries Inc. (NYSE:MHK) has managed to surpass estimates in the last consecutive 4 quarters. The company’s net profit margin stands at 3.92%, reflecting an over 37% year-on-year increase.

Analysts have given Mohawk Industries Inc. (NYSE:MHK) an average price target of $126.18, which suggests a potential upside of 11.89% from the current price levels. Overall, 7 analysts have given a “Strong Buy” rating on Mohawk Industries Inc. (NYSE:MHK), while 10 have given a “Buy” rating.

Overall, 41 hedge funds reported owning a stake in Mohawk Industries Inc. (NYSE:MHK) at the end of the first quarter of 2024, making it one of the best land and timber stocks to buy now.