Royal Bank of Canada Increases Stock Holdings in Mohawk Industries, Inc. $MHK

Key Points

• Royal Bank of Canada increased its Mohawk Industries stake by 15.1% in the first quarter, bringing its holdings to 63,247 shares valued at approximately $6.2 million. Institutional investors collectively own 78.98% of the company.
• Mohawk reported quarterly EPS of $3.67, exceeding estimates of $2.58, while revenue rose 6.8% year over year to $2.99 billion. The company issued third-quarter 2026 EPS guidance of $2.38–$2.48.
• The stock opened at $136.53, above the analyst consensus price target of $130.50, with a consensus “Hold” rating. Insiders have sold 119,882 shares worth nearly $15 million over the past three months, including substantial sales by the CEO and a director.

Royal Bank of Canada increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 63,247 shares of the company's stock after purchasing an additional 8,306 shares during the quarter. Royal Bank of Canada owned 0.10% of Mohawk Industries worth $6,227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in Mohawk Industries in the fourth quarter worth $77,528,000. AQR Capital Management LLC raised its stake in shares of Mohawk Industries by 73.9% in the third quarter. AQR Capital Management LLC now owns 1,578,335 shares of the company's stock valued at $200,922,000 after acquiring an additional 670,601 shares during the period. Steadfast Capital Management LP boosted its stake in shares of Mohawk Industries by 96.3% during the 3rd quarter. Steadfast Capital Management LP now owns 937,301 shares of the company's stock worth $120,837,000 after purchasing an additional 459,700 shares during the period. Freestone Grove Partners LP bought a new position in Mohawk Industries during the 3rd quarter valued at about $36,076,000. Finally, Gendell Jeffrey L lifted its stake in Mohawk Industries by 136.3% in the fourth quarter. Gendell Jeffrey L now owns 445,669 shares of the company's stock worth $48,712,000 after purchasing an additional 257,100 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company's stock.

Mohawk Industries Price Performance

Shares of MHK opened at $136.53 on Wednesday. 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 has a 50 day moving average price of $115.38 and a 200-day moving average price of $112.04. Mohawk Industries, Inc. has a fifty-two week low of $92.99 and a fifty-two week high of $143.13. The stock has a market capitalization of $9.25 billion, a PE ratio of 18.08, a PEG ratio of 2.00 and a beta of 1.18.

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 (EPS) for the quarter, beating the consensus estimate of $2.58 by $1.09. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates 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 was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $2.77 earnings per share. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. Equities analysts predict that Mohawk Industries, Inc. will post 9.69 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bernard Thiers sold 13,393 shares of the firm'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 owned 93,633 shares of the company's stock, valued at $12,638,582.34. This trade represents a 12.51% 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, CEO Jeffrey S. Lorberbaum sold 53,314 shares of Mohawk Industries stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $131.57, for a total value of $7,014,522.98. Following the completion of the transaction, the chief executive officer owned 10,000 shares in the company, valued at $1,315,700. This trade represents a 84.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 119,882 shares of company stock worth $14,992,118. 17.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MHK has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on Mohawk Industries from $143.00 to $138.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Barclays increased their target price on Mohawk Industries from $109.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Robert W. Baird boosted their target price on shares of Mohawk Industries from $112.00 to $132.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Evercore set a $110.00 price target on shares of Mohawk Industries in a report on Monday, May 4th. Finally, Wall Street Zen raised shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Mohawk Industries presently has a consensus rating of "Hold" and an average price target of $130.50.

About Mohawk Industries

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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