Corient Private Wealth LP Buys 96,631 Shares of Mohawk Industries, Inc. $MHK

Key Points

• Corient Private Wealth increased its Mohawk Industries stake by 785.2% in the second quarter, acquiring 96,631 additional shares and bringing its holdings to 108,937 shares valued at approximately $13.2 million. Institutional investors and hedge funds collectively own 78.98% of the stock.
• Analysts maintain a generally neutral view, with a consensus “Hold” rating and an average price target of $130.50. Recent targets range from $115 to $155, while Truist Financial reiterated a “Buy” rating.
• Mohawk exceeded quarterly expectations, reporting adjusted EPS of $3.67 versus the $2.58 consensus and revenue of $2.99 billion, up 6.8% year over year. However, insiders sold 165,921 shares worth $21.3 million over the past 90 days.

Corient Private Wealth LP grew its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 785.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,937 shares of the company's stock after acquiring an additional 96,631 shares during the quarter. Corient Private Wealth LP owned 0.16% of Mohawk Industries worth $13,217,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Mohawk Industries in the second quarter worth $777,293,000. Dimensional Fund Advisors LP increased its position in shares of Mohawk Industries by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company's stock valued at $316,962,000 after buying an additional 80,761 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of Mohawk Industries by 0.6% in the 4th quarter. Pzena Investment Management LLC now owns 1,186,400 shares of the company's stock valued at $129,674,000 after buying an additional 7,332 shares in the last quarter. Brandes Investment Partners LP raised its stake in Mohawk Industries by 20.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,102,574 shares of the company's stock worth $120,513,000 after buying an additional 186,649 shares during the period. Finally, Norges Bank bought a new position in Mohawk Industries during the fourth quarter worth about $77,528,000. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MHK has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $121.00 price target on shares of Mohawk Industries in a report on Tuesday, August 4th. Barclays boosted their price objective on Mohawk Industries from $109.00 to $115.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Wells Fargo & Company increased their target price on Mohawk Industries from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Finally, Truist Financial upped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Mohawk Industries currently has a consensus rating of "Hold" and a consensus price target of $130.50.

Insider Buying and Selling

In related news, Director Bernard Thiers sold 13,393 shares of the firm's stock in a transaction on 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 transaction, the director directly owned 93,633 shares of the company's stock, valued at approximately $12,638,582.34. This trade represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 53,314 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 10,000 shares in the company, valued at approximately $1,315,700. The trade was a 84.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 165,921 shares of company stock worth $21,266,530 over the last 90 days. Company insiders own 17.90% of the company's stock.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $129.11 on Wednesday. The firm has a market cap of $8.75 billion, a PE ratio of 17.10, a P/E/G ratio of 1.87 and a beta of 1.18. Mohawk Industries, Inc. has a 12 month low of $92.99 and a 12 month high of $140.30. The company's fifty day simple moving average is $125.29 and its 200-day simple moving average is $112.90. 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 results on Thursday, July 30th. The company reported $3.67 EPS for the quarter, topping 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 analysts' expectations of $2.79 billion. During the same period in the previous year, the firm posted $2.77 EPS. The company's revenue for the quarter 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 research analysts expect that Mohawk Industries, Inc. will post 9.9 EPS for the current fiscal year.

Mohawk Industries Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.