VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Mohawk Industries, Inc. $MHK

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) during the 2nd quarter, HoldingsChannel reports. The fund bought 13,250 shares of the company’s stock, valued at approximately $1,608,000.

A number of other large investors have also made changes to their positions in MHK. Goldman Sachs Group Inc. increased its holdings in shares of Mohawk Industries by 14.1% in the first quarter. Goldman Sachs Group Inc. now owns 344,797 shares of the company’s stock valued at $39,369,000 after purchasing an additional 42,655 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Mohawk Industries by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 193,977 shares of the company’s stock worth $22,148,000 after buying an additional 1,175 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Mohawk Industries during the first quarter worth $149,000. Creative Planning grew its holdings in Mohawk Industries by 10.2% in the 2nd quarter. Creative Planning now owns 3,730 shares of the company’s stock valued at $391,000 after buying an additional 346 shares in the last quarter. Finally, CW Advisors LLC acquired a new stake in shares of Mohawk Industries in the 2nd quarter worth $280,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $139.48, for a total value of $139,480.00. Following the sale, the insider directly owned 6,132 shares of the company’s stock, valued at approximately $855,291.36. The trade was a 14.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Lorberbaum sold 53,314 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $131.57, for a total transaction of $7,014,522.98. Following the completion of the transaction, the chief executive officer owned 10,000 shares in the company, valued at approximately $1,315,700. This represents a 84.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 110,686 shares of company stock valued at $14,048,438 in the last ninety days. Insiders own 17.90% of the company’s stock.

Wall Street Analyst Weigh In

MHK has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Mohawk Industries from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Zacks Research raised shares of Mohawk Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, June 19th. Truist Financial boosted their target price on shares of Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of Mohawk Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Robert W. Baird raised their price target on shares of Mohawk Industries from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $130.50.

Mohawk Industries Stock Performance

NYSE MHK opened at $126.84 on Friday. The stock has a fifty day simple moving average of $124.70 and a 200-day simple moving average of $112.91. The company has a current ratio of 1.92, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a market cap of $8.59 billion, a PE ratio of 16.80, a P/E/G ratio of 1.79 and a beta of 1.18. Mohawk Industries, Inc. has a twelve month low of $92.99 and a twelve month high of $140.30.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings data on Thursday, July 30th. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $1.09. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the firm earned $2.77 EPS. Mohawk Industries’s revenue was up 6.8% on a year-over-year basis. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. Equities analysts anticipate that Mohawk Industries, Inc. will post 9.9 earnings per share for the current year.

About Mohawk Industries

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through a broad portfolio that includes carpet, rugs, ceramic and porcelain tile, laminate, hardwood, luxury vinyl tile and other resilient flooring products.

Mohawk markets its products under brands that include Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean, IVC and Durkan. Its products are sold through home improvement retailers, independent flooring dealers, distributors, builders, commercial contractors and other channels.

The company was formed in 1988 through the merger of Mohasco Corporation and Aladdin Mills and is headquartered in Calhoun, Georgia.