Wallace Capital Management Inc. Purchases New Shares in Mohawk Industries, Inc. $MHK

Wallace Capital Management Inc. purchased a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 218,805 shares of the company's stock, valued at approximately $26,548,000. Mohawk Industries accounts for about 2.9% of Wallace Capital Management Inc.'s holdings, making the stock its 9th largest position. Wallace Capital Management Inc. owned about 0.32% of Mohawk Industries at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MHK. UBS Group AG increased its stake in shares of Mohawk Industries by 6.1% in the fourth quarter. UBS Group AG now owns 227,068 shares of the company's stock worth $24,819,000 after buying an additional 13,090 shares during the last quarter. Tejara Capital Ltd acquired a new position in Mohawk Industries during the 4th quarter worth $2,514,000. Olstein Capital Management L.P. increased its position in shares of Mohawk Industries by 23.9% in the 4th 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 last quarter. BNP Paribas Financial Markets lifted its position in shares of Mohawk Industries by 11.5% during 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 last quarter. Finally, Thrivent Financial for Lutherans grew its stake 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 and hedge funds own 78.98% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen upgraded Mohawk Industries from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. Royal Bank Of Canada lifted their target price on Mohawk Industries from $117.00 to $130.00 and gave the stock a "sector perform" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. reduced their price objective on Mohawk Industries from $143.00 to $138.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Mohawk Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Finally, Barclays boosted their price objective on shares of Mohawk Industries from $109.00 to $115.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $130.50.

Insider Activity at Mohawk Industries

In related news, CAO David Lee Repp sold 225 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $130.59, for a total transaction of $29,382.75. Following the completion of the sale, the chief accounting officer directly owned 1,786 shares of the company's stock, valued at $233,233.74. This represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzanne L. Helen sold 1,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $139.48, for a total value of $139,480.00. Following the completion of the transaction, the insider owned 6,132 shares of the company's stock, valued at $855,291.36. This trade represents a 14.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,882 shares of company stock valued at $14,603,948 in the last ninety days. Company insiders own 17.90% of the company's stock.

Mohawk Industries Price Performance

Shares of MHK opened at $132.70 on Thursday. Mohawk Industries, Inc. has a 12 month low of $92.99 and a 12 month high of $143.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.92 and a quick ratio of 1.13. The stock has a fifty day moving average price of $121.75 and a 200 day moving average price of $113.01. The company has a market cap of $8.99 billion, a P/E ratio of 17.58, a PEG ratio of 1.93 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.58 by $1.09. The company had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.79 billion. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%.The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $2.77 earnings per share. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. On average, research analysts forecast that Mohawk Industries, Inc. will post 9.9 earnings per share for the current year.

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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