Strs Ohio Invests $16.01 Million in Mohawk Industries, Inc. $MHK

Key Points

• Strs Ohio acquired 140,192 shares of Mohawk Industries, Inc. valued at approximately $16 million, representing 0.22% of the company's total shares.
• Several institutional investors, including JPMorgan Chase & Co., increased their stakes in Mohawk Industries significantly during the first quarter, with 78.98% of the stock now owned by institutional investors.
• The stock currently has a consensus rating of "Moderate Buy" with a target price of approximately $141.93, reflecting positive outlooks from multiple analysts.

Strs Ohio acquired a new position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 140,192 shares of the company's stock, valued at approximately $16,007,000. Strs Ohio owned about 0.22% of Mohawk Industries at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. grew its stake in shares of Mohawk Industries by 326.3% in the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company's stock worth $28,000 after purchasing an additional 186 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Mohawk Industries by 2,506.3% in the 1st quarter. Brooklyn Investment Group now owns 417 shares of the company's stock worth $48,000 after purchasing an additional 401 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of Mohawk Industries by 40.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 481 shares of the company's stock worth $55,000 after purchasing an additional 139 shares during the last quarter. Allworth Financial LP grew its stake in shares of Mohawk Industries by 36.2% in the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after purchasing an additional 158 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in shares of Mohawk Industries in the 4th quarter worth approximately $92,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Stock Up 1.4%

MHK traded up $1.83 on Thursday, reaching $133.11. 445,171 shares of the company traded hands, compared to its average volume of 804,125. The stock's 50 day moving average price is $124.86 and its 200-day moving average price is $113.12. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 2.98 and a beta of 1.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.13 and a quick ratio of 1.18.

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

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 700 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $128.05, for a total value of $89,635.00. Following the completion of the sale, the vice president directly owned 17,804 shares in the company, valued at $2,279,802.20. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the completion of the sale, the chief executive officer owned 33,600 shares of the company's stock, valued at $4,059,216. This trade represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,791 shares of company stock valued at $4,357,225 over the last three months. 17.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Evercore ISI dropped their target price on shares of Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating on the stock in a research report on Monday, July 28th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. Wells Fargo & Company lifted their target price on shares of Mohawk Industries from $120.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. Finally, Barclays lifted their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $141.93.

Mohawk Industries Company Profile

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.