Mohawk Industries, Inc. $MHK Shares Sold by Amundi

Key Points

• Amundi cut its Mohawk Industries stake by 49.9% in the second quarter, selling 63,608 shares and retaining 63,833 shares worth approximately $7.75 million.
• Institutional investors own nearly 79% of Mohawk’s stock, while insiders sold 110,686 shares valued at roughly $14.05 million over the past 90 days, including significant sales by the CEO and a director.
• Mohawk reported quarterly EPS of $3.67, beating estimates of $2.58, while revenue rose 6.8% year over year to $2.99 billion. Analysts maintain a consensus “Hold” rating with an average price target of $130.50, compared with the stock’s $126.84 opening price.

Amundi trimmed its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 49.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 63,833 shares of the company's stock after selling 63,608 shares during the quarter. Amundi owned approximately 0.09% of Mohawk Industries worth $7,745,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Mohawk Industries during the 2nd quarter valued at about $1,608,000. California State Teachers Retirement System increased its stake in shares of Mohawk Industries by 11,690.0% in the second quarter. California State Teachers Retirement System now owns 7,215,980 shares of the company's stock valued at $875,515,000 after purchasing an additional 7,154,776 shares during the period. Wedmont Private Capital increased its stake in shares of Mohawk Industries by 20.5% in the second quarter. Wedmont Private Capital now owns 2,763 shares of the company's stock valued at $335,000 after purchasing an additional 470 shares during the period. Syon Capital LLC bought a new stake in shares of Mohawk Industries during the second quarter valued at approximately $234,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Mohawk Industries during the second quarter worth approximately $328,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Insider Buying and Selling at Mohawk Industries

In related news, Director Bernard Thiers sold 13,393 shares of Mohawk Industries stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $134.98, for a total value of $1,807,787.14. Following the transaction, the director directly owned 93,633 shares in the company, valued at $12,638,582.34. The trade was a 12.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value 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 trade represents a 84.21% 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 have sold 110,686 shares of company stock valued at $14,048,438. Corporate insiders own 17.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Truist Financial increased their price objective on Mohawk Industries from $135.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Weiss Ratings raised Mohawk Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price target on Mohawk Industries from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Royal Bank Of Canada raised their price target on Mohawk Industries from $117.00 to $130.00 and gave the company a "sector perform" rating in a report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $121.00 target price on shares of Mohawk Industries in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Mohawk Industries currently has a consensus rating of "Hold" and an average target price of $130.50.

Mohawk Industries Stock Up 2.1%

MHK opened at $126.84 on Friday. Mohawk Industries, Inc. has a one year low of $92.99 and a one year high of $140.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.92. The stock's fifty day moving average is $124.70 and its 200-day moving average is $112.91. The company has a market capitalization of $8.59 billion, a PE ratio of 16.80, a P/E/G ratio of 1.83 and a beta of 1.18.

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. The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.77 earnings per share. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. On average, equities analysts predict 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.

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