Mohawk Industries, Inc. $MHK Shares Bought by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System increased its Mohawk Industries stake by 10.4% in the first quarter, bringing its holding to 109,273 shares valued at about $10.8 million.
• Mohawk Industries reported better-than-expected quarterly earnings of $1.90 per share, beating estimates, while revenue rose 8% year over year to $2.73 billion.
• Despite the earnings beat, insiders sold shares recently and analysts remain cautious overall, with the stock carrying an average Hold rating and a consensus price target of $124.42.

California Public Employees Retirement System raised its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,273 shares of the company's stock after buying an additional 10,330 shares during the period. California Public Employees Retirement System owned about 0.18% of Mohawk Industries worth $10,759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MHK. Goldman Sachs Group Inc. boosted its holdings in Mohawk Industries by 14.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 344,797 shares of the company's stock valued at $39,369,000 after acquiring an additional 42,655 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 purchasing an additional 1,175 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Mohawk Industries during the first quarter worth about $149,000. Creative Planning boosted its stake in shares of Mohawk Industries by 10.2% in the second quarter. Creative Planning now owns 3,730 shares of the company's stock valued at $391,000 after purchasing an additional 346 shares during the period. Finally, CW Advisors LLC purchased a new position in shares of Mohawk Industries in the second quarter valued at approximately $280,000. Hedge funds and other institutional investors own 78.98% of the company's stock.

Mohawk Industries Stock Up 2.9%

MHK stock opened at $113.16 on Friday. The company's 50 day moving average price is $109.43 and its 200 day moving average price is $111.27. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 2.80 and a beta of 1.18. Mohawk Industries, Inc. has a fifty-two week low of $92.99 and a fifty-two week high of $143.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.23 and a current ratio of 2.16.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The firm'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. On average, equities research analysts anticipate that Mohawk Industries, Inc. will post 8.67 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, CEO Jeffrey S. Lorberbaum sold 4,500 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $112.08, for a total value of $504,360.00. Following the sale, the chief executive officer directly owned 20,000 shares in the company, valued at $2,241,600. This trade represents a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzanne L. Helen sold 16,600 shares of Mohawk Industries stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $112.97, for a total value of $1,875,302.00. Following the sale, the insider directly owned 14,132 shares of the company's stock, valued at $1,596,492.04. This trade represents a 54.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 40,186 shares of company stock valued at $4,460,321. Corporate insiders own 17.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Bank of America reaffirmed a "neutral" rating and set a $122.00 target price (down from $149.00) on shares of Mohawk Industries in a research note on Monday, April 20th. JPMorgan Chase & Co. decreased their price target on shares of Mohawk Industries from $143.00 to $138.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Robert W. Baird dropped their price target on shares of Mohawk Industries from $118.00 to $112.00 and set a "neutral" rating for the company in a research note on Monday, May 4th. Wells Fargo & Company cut their price objective on 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. Finally, Evercore set a $110.00 price objective on Mohawk Industries in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Mohawk Industries has an average rating of "Hold" and an average target price of $124.42.

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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