Norges Bank Takes Position in Mohawk Industries, Inc. $MHK

Norges Bank purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 709,310 shares of the company’s stock, valued at approximately $77,528,000. Norges Bank owned 1.15% of Mohawk Industries as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. bought a new stake in shares of Mohawk Industries during the fourth quarter valued at about $10,786,000. Brickwood Asset Management LLP increased its position in shares of Mohawk Industries by 18.4% during the fourth quarter. Brickwood Asset Management LLP now owns 5,835 shares of the company’s stock valued at $638,000 after buying an additional 908 shares during the period. Legal & General Group Plc increased its position in shares of Mohawk Industries by 1.2% during the fourth quarter. Legal & General Group Plc now owns 130,258 shares of the company’s stock valued at $14,237,000 after buying an additional 1,576 shares during the period. Catalyst Funds Management Pty Ltd bought a new stake in shares of Mohawk Industries during the fourth quarter valued at about $426,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Mohawk Industries during the fourth quarter valued at about $353,000. 78.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 5,658 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $105.19, for a total transaction of $595,165.02. Following the completion of the sale, the insider owned 61,935 shares of the company’s stock, valued at approximately $6,514,942.65. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey S. Lorberbaum sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $105.53, for a total value of $527,650.00. Following the sale, the chief executive officer directly owned 25,000 shares of the company’s stock, valued at approximately $2,638,250. This trade represents a 16.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,544 shares of company stock worth $2,037,277 over the last quarter. Company insiders own 17.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MHK. JPMorgan Chase & Co. decreased their price target on Mohawk Industries from $143.00 to $138.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Wells Fargo & Company decreased 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 report on Wednesday, April 8th. Evercore set a $110.00 price objective on shares of Mohawk Industries in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, UBS Group restated a “neutral” rating and issued a $140.00 price objective on shares of Mohawk Industries in a research report on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $123.33.

Mohawk Industries Stock Down 2.4%

Shares of NYSE MHK opened at $102.73 on Friday. Mohawk Industries, Inc. has a one year low of $92.99 and a one year high of $143.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.16 and a quick ratio of 1.23. The firm’s 50 day simple moving average is $102.46 and its two-hundred day simple moving average is $110.82. The stock has a market capitalization of $6.26 billion, a P/E ratio of 15.40, a PEG ratio of 2.55 and a beta of 1.20.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results 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 business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the business earned $1.52 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Mohawk Industries has set its Q2 2026 guidance at 2.500-2.600 EPS. As a group, analysts expect that Mohawk Industries, Inc. will post 8.67 EPS for the current fiscal year.

About Mohawk Industries

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.