Bank of New York Mellon Corp Trims Stock Holdings in Mohawk Industries, Inc. $MHK

Bank of New York Mellon Corp lessened its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 296,955 shares of the company’s stock after selling 11,111 shares during the quarter. Bank of New York Mellon Corp owned 0.49% of Mohawk Industries worth $29,238,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MHK. Illinois Municipal Retirement Fund acquired a new stake in shares of Mohawk Industries in the first quarter worth $3,071,000. Sanctuary Advisors LLC raised its stake in shares of Mohawk Industries by 72.6% during the 1st quarter. Sanctuary Advisors LLC now owns 8,085 shares of the company’s stock valued at $796,000 after buying an additional 3,400 shares during the last quarter. Calamos Wealth Management LLC purchased a new position in shares of Mohawk Industries during the 1st quarter valued at about $277,000. Calamos Advisors LLC acquired a new position in shares of Mohawk Industries in the 1st quarter valued at about $277,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Mohawk Industries by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 251,621 shares of the company’s stock valued at $24,775,000 after buying an additional 4,929 shares during the period. 78.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MHK shares. Bank of America reaffirmed a “neutral” rating and set a $122.00 target price (down from $149.00) on shares of Mohawk Industries in a report on Monday, April 20th. JPMorgan Chase & Co. decreased their price target on Mohawk Industries from $143.00 to $138.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Wells Fargo & Company lowered their price objective on Mohawk Industries from $125.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Evercore set a $110.00 price objective on shares of Mohawk Industries in a research note on Monday, May 4th. Finally, Truist Financial lowered their price target on shares of Mohawk Industries from $155.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $124.42.

Insider Activity at Mohawk Industries

In related news, CEO Jeffrey S. Lorberbaum sold 4,500 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $112.08, for a total value of $504,360.00. Following the completion of the transaction, the chief executive officer directly owned 20,000 shares of the company’s stock, valued at approximately $2,241,600. This represents a 18.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzanne L. Helen sold 16,600 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $112.97, for a total value of $1,875,302.00. Following the completion of the transaction, the insider owned 14,132 shares in the company, valued at $1,596,492.04. The trade was a 54.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,186 shares of company stock valued at $4,460,321 over the last quarter. 17.90% of the stock is owned by company insiders.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $115.53 on Tuesday. The firm has a market cap of $7.04 billion, a PE ratio of 17.32, a PEG ratio of 2.81 and a beta of 1.18. The firm has a fifty day moving average of $109.80 and a 200 day moving average of $111.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.23 and a current ratio of 2.16. Mohawk Industries, Inc. has a one year low of $92.99 and a one year high of $143.13.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.10. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.74 billion. Mohawk Industries had a net margin of 3.77% and a return on equity of 6.96%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share. Mohawk Industries has set its Q2 2026 guidance at 2.500-2.600 EPS. As a group, research analysts predict that Mohawk Industries, Inc. will post 8.67 EPS for the current fiscal 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.