Mohawk Industries, Inc. $MHK Stake Boosted by ARGA Investment Management LP

Key Points

• ARGA Investment Management boosted its Mohawk Industries stake by 36.1% in the first quarter, buying 93,669 more shares and bringing its holding to 353,433 shares worth about $34.8 million.
• Several other institutional investors also increased positions, and overall institutional ownership of Mohawk stands at 78.98%.
• Insiders have been selling shares recently, including the CEO and another executive, while Mohawk’s latest quarterly earnings beat EPS estimates and the company raised its Q2 guidance to 2.50-2.60 EPS.

ARGA Investment Management LP raised its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 36.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 353,433 shares of the company's stock after buying an additional 93,669 shares during the quarter. Mohawk Industries makes up about 1.1% of ARGA Investment Management LP's investment portfolio, making the stock its 21st largest holding. ARGA Investment Management LP owned about 0.58% of Mohawk Industries worth $34,799,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wilsey Asset Management Inc. lifted its position in shares of Mohawk Industries by 11.5% in the 4th quarter. Wilsey Asset Management Inc. now owns 237,869 shares of the company's stock worth $25,999,000 after acquiring an additional 24,621 shares during the period. UBS Group AG increased its position in shares of Mohawk Industries by 6.1% during the fourth quarter. UBS Group AG now owns 227,068 shares of the company's stock valued at $24,819,000 after purchasing an additional 13,090 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Mohawk Industries by 93.3% in the fourth quarter. State of Alaska Department of Revenue now owns 42,941 shares of the company's stock valued at $4,693,000 after purchasing an additional 20,728 shares in the last quarter. Tejara Capital Ltd acquired a new position in shares of Mohawk Industries in the fourth quarter valued at $2,514,000. Finally, Olstein Capital Management L.P. lifted its position in Mohawk Industries by 23.9% in the fourth quarter. Olstein Capital Management L.P. now owns 68,750 shares of the company's stock worth $7,514,000 after purchasing an additional 13,250 shares during the period. Institutional investors own 78.98% of the company's stock.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 16,600 shares of the firm's 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 transaction, the insider owned 14,132 shares in the company, valued at $1,596,492.04. This trade represents a 54.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 4,500 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $112.08, for a total transaction of $504,360.00. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 40,186 shares of company stock valued at $4,460,321. 17.90% of the stock is currently owned by corporate insiders.

Mohawk Industries Trading Up 0.3%

Shares of MHK opened at $109.94 on Friday. The stock has a fifty day moving average price of $107.47 and a two-hundred day moving average price of $111.18. 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, Inc. has a 52-week low of $92.99 and a 52-week high of $143.13. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.71 and a beta of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.90 EPS for the quarter, topping 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 business's revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Mohawk Industries has set its Q2 2026 guidance at 2.500-2.600 EPS. Analysts predict that Mohawk Industries, Inc. will post 8.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MHK. Evercore set a $110.00 price target on shares of Mohawk Industries in a research report on Monday, May 4th. Barclays lowered their price objective on Mohawk Industries from $121.00 to $96.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. JPMorgan Chase & Co. dropped their target price on Mohawk Industries from $143.00 to $138.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. Weiss Ratings downgraded Mohawk Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, May 21st. Finally, Truist Financial decreased their price target on Mohawk Industries from $155.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $123.33.

Mohawk Industries Profile

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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