Geode Capital Management LLC Sells 462,482 Shares of Mohawk Industries, Inc. $MHK

Key Points

• Geode Capital Management cut its stake in Mohawk Industries by 33.9% in the fourth quarter, selling 462,482 shares and leaving it with 902,423 shares worth about $98.7 million.
• Mohawk reported better-than-expected quarterly earnings of $1.90 per share, while revenue of $2.73 billion was slightly below estimates; sales still rose 8% year over year.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a consensus target price of $123.33, even as some firms recently trimmed price targets.

Geode Capital Management LLC lessened its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 33.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 902,423 shares of the company's stock after selling 462,482 shares during the quarter. Geode Capital Management LLC owned about 1.46% of Mohawk Industries worth $98,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MHK. Bayforest Capital Ltd bought a new stake in Mohawk Industries in the fourth quarter valued at about $27,000. Global Retirement Partners LLC increased its holdings in Mohawk Industries by 950.0% in the fourth quarter. Global Retirement Partners LLC now owns 252 shares of the company's stock valued at $28,000 after purchasing an additional 228 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in Mohawk Industries in the fourth quarter valued at about $43,000. Danske Bank A S bought a new stake in shares of Mohawk Industries in the third quarter worth about $52,000. Finally, Advisory Services Network LLC bought a new stake in shares of Mohawk Industries in the third quarter worth about $64,000. Institutional investors own 78.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MHK. Wall Street Zen upgraded Mohawk Industries from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Robert W. Baird lowered their price target on Mohawk Industries from $118.00 to $112.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Evercore set a $110.00 price target on Mohawk Industries in a report on Monday, May 4th. Wells Fargo & Company lowered their price target on Mohawk Industries from $125.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. Finally, Barclays lowered their price target on Mohawk Industries from $121.00 to $96.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $123.33.

Mohawk Industries Stock Performance

Shares of Mohawk Industries stock opened at $102.73 on Friday. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.55 and a beta of 1.20. The stock's 50-day moving average is $102.46 and its 200-day moving average is $110.82. 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.

Mohawk Industries (NYSE:MHK - Get Free Report) 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. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.74 billion. Mohawk Industries had a return on equity of 6.96% and a net margin of 3.77%.The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 earnings per share. Mohawk Industries has set its Q2 2026 guidance at 2.500-2.600 EPS. Equities analysts predict that Mohawk Industries, Inc. will post 8.67 earnings per share for the current fiscal year.

Insider Transactions at Mohawk Industries

In other news, CEO Jeffrey S. Lorberbaum sold 5,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was 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 in the company, valued at $2,638,250. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Suzanne L. Helen sold 1,887 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $106.06, for a total value of $200,135.22. Following the completion of the sale, the insider owned 48,049 shares in the company, valued at approximately $5,096,076.94. This trade represents a 3.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 19,544 shares of company stock worth $2,037,277. Corporate insiders own 17.90% of the company's stock.

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.

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