Northern Trust Corp Buys 39,414 Shares of Mohawk Industries, Inc. $MHK

Key Points

• Northern Trust Corp increased its stake in Mohawk Industries by 7.8% during the first quarter, owning 546,888 shares valued at approximately $62.44 million.
• Insider activity includes significant sales, with VP Rodney David Patton selling 700 shares and Director Bernard Thiers selling 10,000 shares, impacting their respective ownership positions.
• Mohawk Industries recently reported earnings of $2.77 per share, exceeding expectations, and set a Q3 2025 guidance at $2.560-$2.660 EPS.

Northern Trust Corp increased its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 7.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 546,888 shares of the company's stock after purchasing an additional 39,414 shares during the quarter. Northern Trust Corp owned approximately 0.87% of Mohawk Industries worth $62,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. boosted its holdings in shares of Mohawk Industries by 326.3% during the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company's stock worth $28,000 after buying an additional 186 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Mohawk Industries by 2,506.3% during the 1st quarter. Brooklyn Investment Group now owns 417 shares of the company's stock worth $48,000 after buying an additional 401 shares during the period. Resona Asset Management Co. Ltd. boosted its holdings in shares of Mohawk Industries by 40.6% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 481 shares of the company's stock worth $55,000 after buying an additional 139 shares during the period. Allworth Financial LP boosted its holdings in shares of Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after buying an additional 158 shares during the period. Finally, Mufg Securities Americas Inc. bought a new stake in shares of Mohawk Industries during the 4th quarter worth about $92,000. Institutional investors own 78.98% of the company's stock.

Insiders Place Their Bets

In other news, VP Rodney David Patton sold 700 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $128.05, for a total value of $89,635.00. Following the completion of the transaction, the vice president owned 17,804 shares of the company's stock, valued at $2,279,802.20. This represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $120.81, for a total value of $1,932,960.00. Following the completion of the transaction, the chief executive officer directly owned 33,600 shares of the company's stock, valued at $4,059,216. This represents a 32.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,500 shares of company stock worth $3,905,221. Insiders own 17.40% of the company's stock.

Mohawk Industries Price Performance

MHK traded up $0.41 on Friday, hitting $132.89. 570,693 shares of the stock were exchanged, compared to its average volume of 819,755. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18. The business has a 50-day moving average of $117.53 and a two-hundred day moving average of $111.54. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.89 and a beta of 1.28.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.15. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.The firm had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter in the previous year, the business posted $3.00 earnings per share. The business's revenue for the quarter was up .0% on a year-over-year basis. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MHK has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $123.00 price target (up from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. Wells Fargo & Company raised their price target on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Wall Street Zen lowered shares of Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Barclays raised their price target on shares of Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Finally, Robert W. Baird raised their price target on shares of Mohawk Industries from $130.00 to $142.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $140.14.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.