Mohawk Industries, Inc. $MHK Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Mohawk Industries stake by 78.1% in the second quarter, selling 11,317 shares and retaining 3,180 shares worth approximately $386,000. Institutional investors collectively own 78.98% of the company.
• Analysts raised their price targets following Mohawk’s strong quarterly results, including earnings of $3.67 per share versus the $2.58 consensus and revenue of $2.99 billion. Despite the target increases, the stock has a consensus “Hold” rating and an average price target of $130.50.
• Company insiders continued selling shares, with executives and directors selling 172,996 shares worth $22.4 million in the latest quarter. Mohawk shares opened at $119.54, compared with a 52-week range of $92.99 to $140.30.

Engineers Gate Manager LP decreased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 78.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,180 shares of the company's stock after selling 11,317 shares during the period. Engineers Gate Manager LP's holdings in Mohawk Industries were worth $386,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MHK. BlackRock Inc. purchased a new stake in Mohawk Industries during the 2nd quarter worth approximately $777,293,000. Dimensional Fund Advisors LP grew its stake in Mohawk Industries by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company's stock valued at $316,962,000 after purchasing an additional 80,761 shares during the last quarter. Pzena Investment Management LLC acquired a new position in shares of Mohawk Industries in the second quarter valued at about $138,661,000. Brandes Investment Partners LP increased its holdings in shares of Mohawk Industries by 20.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,102,574 shares of the company's stock valued at $120,513,000 after purchasing an additional 186,649 shares during the period. Finally, Norges Bank acquired a new stake in shares of Mohawk Industries during the fourth quarter worth about $77,528,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Mohawk Industries from $117.00 to $130.00 and gave the stock a "sector perform" rating in a report on Monday, August 3rd. Barclays increased their price objective on shares of Mohawk Industries from $109.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Wells Fargo & Company raised their target price on shares of Mohawk Industries from $115.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Zacks Research upgraded shares of Mohawk Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, June 19th. Finally, Robert W. Baird upped their price target on shares of Mohawk Industries from $112.00 to $132.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. 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 company's stock. According to data from MarketBeat.com, Mohawk Industries currently has a consensus rating of "Hold" and an average target price of $130.50.

Insider Buying and Selling

In other news, CEO Jeffrey S. Lorberbaum sold 11,400 shares of Mohawk Industries stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $128.21, for a total value of $1,461,594.00. Following the sale, the chief executive officer owned 59,299 shares in the company, valued at $7,602,724.79. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bernard Thiers sold 13,393 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.98, for a total transaction of $1,807,787.14. Following the sale, the director directly owned 93,633 shares of the company's stock, valued at $12,638,582.34. This represents a 12.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 172,996 shares of company stock valued at $22,433,248. 17.90% of the stock is owned by corporate insiders.

Mohawk Industries Stock Performance

Shares of NYSE MHK opened at $119.54 on Friday. The company has a market capitalization of $8.10 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. 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 company's fifty day moving average price is $127.09 and its 200 day moving average price is $113.22. Mohawk Industries, Inc. has a 1 year low of $92.99 and a 1 year high of $140.30.

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 for the quarter, topping analysts' consensus estimates of $2.58 by $1.09. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.79 billion. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. The company's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.77 earnings per share. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. On average, research analysts predict that Mohawk Industries, Inc. will post 9.9 earnings per share for the current year.

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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