California State Teachers Retirement System Increases Position in Mohawk Industries, Inc. $MHK

Key Points

• California State Teachers Retirement System increased its Mohawk Industries stake by 11,690% in the second quarter, purchasing 7.15 million additional shares to own 10.65% of the company, valued at approximately $875.5 million.
• Mohawk reported quarterly EPS of $3.67, beating estimates of $2.58, while revenue reached $2.99 billion and rose 6.8% year over year. The stock opened at $126.84, near analysts’ average target price of $130.50.
• Analysts largely maintain a “Hold” view, despite several raising price targets, while company insiders sold 105,296 shares worth about $13.4 million over the past 90 days.

California State Teachers Retirement System raised its holdings in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 11,690.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,215,980 shares of the company's stock after purchasing an additional 7,154,776 shares during the period. California State Teachers Retirement System owned about 10.65% of Mohawk Industries worth $875,515,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its stake in Mohawk Industries by 11.5% in the 4th quarter. BNP Paribas Financial Markets now owns 132,723 shares of the company's stock valued at $14,507,000 after buying an additional 13,663 shares in the last quarter. Wilsey Asset Management Inc. increased its stake in Mohawk Industries by 27.4% during the 1st quarter. Wilsey Asset Management Inc. now owns 303,104 shares of the company's stock worth $29,844,000 after buying an additional 65,235 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Mohawk Industries by 275.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 61,477 shares of the company's stock valued at $6,719,000 after acquiring an additional 45,109 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Mohawk Industries by 217.2% during the first quarter. Hsbc Holdings PLC now owns 88,062 shares of the company's stock valued at $8,627,000 after acquiring an additional 60,296 shares during the last quarter. Finally, III Capital Management lifted its position in shares of Mohawk Industries by 40.2% in the fourth quarter. III Capital Management now owns 41,850 shares of the company's stock valued at $4,574,000 after acquiring an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Price Performance

NYSE:MHK opened at $126.84 on Monday. Mohawk Industries, Inc. has a 52 week low of $92.99 and a 52 week high of $140.30. The stock's fifty day moving average is $124.70 and its two-hundred day moving average is $112.83. The company has a market capitalization of $8.59 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.83 and a beta of 1.18. The company has a quick ratio of 1.13, a current ratio of 1.92 and a debt-to-equity ratio of 0.14.

Mohawk Industries (NYSE:MHK - Get Free Report) 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. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.79 billion. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. Mohawk Industries's revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.77 EPS. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. Equities analysts expect that Mohawk Industries, Inc. will post 9.9 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on MHK shares. Robert W. Baird boosted their price target on Mohawk Industries from $112.00 to $132.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Royal Bank Of Canada lifted their target price on shares of Mohawk Industries from $117.00 to $130.00 and gave the stock a "sector perform" rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $121.00 target price on shares of Mohawk Industries in a report on Tuesday, August 4th. Wells Fargo & Company increased their target price on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research report on Sunday, June 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $130.50.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 53,314 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $131.57, for a total transaction of $7,014,522.98. Following the sale, the chief executive officer directly owned 10,000 shares in the company, valued at $1,315,700. This represents a 84.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bernard Thiers sold 13,393 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.98, for a total value of $1,807,787.14. Following the completion of the sale, the director directly owned 93,633 shares in the company, valued at $12,638,582.34. This represents a 12.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 105,296 shares of company stock worth $13,444,220 in the last 90 days. Insiders own 17.90% of the company's stock.

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.

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