KLP Kapitalforvaltning AS Increases Position in Mohawk Industries, Inc. $MHK

KLP Kapitalforvaltning AS lifted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 5.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,100 shares of the company’s stock after purchasing an additional 600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Mohawk Industries were worth $1,164,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. boosted its position 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 in the last quarter. Brooklyn Investment Group boosted its position 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 in the last quarter. Resona Asset Management Co. Ltd. boosted its position 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 in the last quarter. Allworth Financial LP boosted its position 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 in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Mohawk Industries in the 1st quarter worth $149,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Trading Up 5.3%

MHK opened at $125.63 on Wednesday. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The stock has a market capitalization of $7.81 billion, a PE ratio of 16.71, a P/E/G ratio of 3.58 and a beta of 1.29. The business’s 50 day moving average price is $129.11 and its 200 day moving average price is $114.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13.

Mohawk Industries (NYSE:MHK) last released 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 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 period in the prior year, the firm posted $3.00 earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. As a group, equities research analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,500 shares of the company’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $120.60, for a total transaction of $301,500.00. Following the transaction, the insider directly owned 91,084 shares in the company, valued at $10,984,730.40. This represents a 2.67% 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, Director Bernard Thiers sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $128.21, for a total value of $1,282,100.00. Following the transaction, the director owned 105,532 shares in the company, valued at $13,530,257.72. This trade represents a 8.66% 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Mohawk Industries in a research report on Wednesday, October 8th. Robert W. Baird raised their target price on Mohawk Industries from $130.00 to $142.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Barclays lifted their price objective on Mohawk Industries from $111.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, July 28th. Wells Fargo & Company lifted their price target on Mohawk Industries from $120.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Finally, Evercore ISI cut their price target on Mohawk Industries from $124.00 to $123.00 and set an “in-line” rating for the company in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.54.

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.