Pzena Investment Management LLC Buys New Position in Mohawk Industries, Inc. $MHK

Key Points

• Pzena Investment Management purchased 1.14 million Mohawk Industries shares worth approximately $138.7 million, giving it a 1.69% stake. Institutional investors collectively own 78.98% of the company.
• Analyst sentiment remains mixed: Mohawk has a consensus “Hold” rating and an average price target of $130.50, despite Truist raising its target to $155 and Wells Fargo, Barclays, and others making more modest adjustments.
• Mohawk reported stronger-than-expected quarterly results, with earnings of $3.67 per share and revenue of $2.99 billion, up 6.8% year over year. However, insiders sold roughly 119,882 shares worth $15.0 million over the past three months.

Pzena Investment Management LLC purchased a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,142,841 shares of the company's stock, valued at approximately $138,661,000. Pzena Investment Management LLC owned 1.69% of Mohawk Industries as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. UBS Group AG raised its position in shares of Mohawk Industries by 6.1% in the 4th quarter. UBS Group AG now owns 227,068 shares of the company's stock worth $24,819,000 after acquiring an additional 13,090 shares in the last quarter. Tejara Capital Ltd bought a new stake in shares of Mohawk Industries during the fourth quarter valued at approximately $2,514,000. Olstein Capital Management L.P. grew its stake 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. BNP Paribas Financial Markets grew its stake in Mohawk Industries by 11.5% in the fourth quarter. BNP Paribas Financial Markets now owns 132,723 shares of the company's stock worth $14,507,000 after purchasing an additional 13,663 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Mohawk Industries by 275.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 61,477 shares of the company's stock worth $6,719,000 after purchasing an additional 45,109 shares in the last quarter. Institutional investors own 78.98% of the company's stock.

Analyst Upgrades and Downgrades

MHK has been the subject of several recent research reports. Wells Fargo & Company raised their price objective on Mohawk Industries from $115.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. Bank of America restated a "neutral" rating and issued a $122.00 price objective (down from $149.00) on shares of Mohawk Industries in a report on Monday, April 20th. Truist Financial raised their target price on shares of Mohawk Industries from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Finally, Barclays lifted their target price on shares of Mohawk Industries from $109.00 to $115.00 and gave the company an "equal weight" 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 MarketBeat.com, Mohawk Industries presently has a consensus rating of "Hold" and an average price target of $130.50.

Insider Activity at Mohawk Industries

In related news, insider Suzanne L. Helen sold 7,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $131.52, for a total transaction of $920,640.00. Following the transaction, the insider owned 7,132 shares in the company, valued at $938,000.64. This represents a 49.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bernard Thiers sold 13,393 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director owned 93,633 shares in the company, valued at $12,638,582.34. This represents a 12.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 119,882 shares of company stock valued at $14,992,118. Insiders own 17.90% of the company's stock.

Mohawk Industries Stock Performance

Shares of MHK opened at $135.20 on Tuesday. The business's fifty day simple moving average is $118.11 and its two-hundred day simple moving average is $112.49. The company has a current ratio of 1.92, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. Mohawk Industries, Inc. has a 12 month low of $92.99 and a 12 month high of $143.13. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 2.07 and a beta of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $3.67 EPS for the quarter, topping analysts' consensus estimates of $2.58 by $1.09. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%.The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the company earned $2.77 EPS. The company's quarterly revenue was up 6.8% compared to the same quarter last year. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. Research analysts anticipate that Mohawk Industries, Inc. will post 9.69 earnings per share for the current fiscal year.

Mohawk Industries Company 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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