VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.62 Million in Mohawk Industries, Inc. $MHK

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK) in the second quarter, Holdings Channel reports. The firm acquired 25,000 shares of the company’s stock, valued at approximately $2,621,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in Mohawk Industries by 326.3% during the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company’s stock valued at $28,000 after buying an additional 186 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Mohawk Industries by 2,506.3% during the 1st quarter. Brooklyn Investment Group now owns 417 shares of the company’s stock valued at $48,000 after buying an additional 401 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in Mohawk Industries by 40.6% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 481 shares of the company’s stock valued at $55,000 after buying an additional 139 shares in the last quarter. Allworth Financial LP lifted its holdings in Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company’s stock valued at $65,000 after buying an additional 158 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Mohawk Industries during the 1st quarter valued at about $149,000. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Trading Up 2.5%

NYSE MHK opened at $131.46 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 3.85 and a beta of 1.29. The company’s 50-day simple moving average is $129.78 and its two-hundred day simple moving average is $115.17. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $155.56.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 24th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.15. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $3.00 EPS. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Equities analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other 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 transaction, the vice president owned 17,804 shares of the company’s stock, valued at $2,279,802.20. The trade was a 3.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bernard Thiers sold 10,000 shares of Mohawk Industries stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $128.21, for a total transaction of $1,282,100.00. Following the completion of the transaction, the director directly owned 105,532 shares in the company, valued at approximately $13,530,257.72. The trade was a 8.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,791 shares of company stock worth $4,357,225. Company insiders own 17.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MHK. Wells Fargo & Company lifted their price objective on shares of Mohawk Industries from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $123.00 price objective (up previously from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Evercore ISI decreased their price objective on shares of Mohawk Industries from $124.00 to $123.00 and set an “in-line” rating for the company in a report on Monday, July 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Mohawk Industries in a research report on Wednesday, October 8th. Finally, Barclays raised their target price on shares of Mohawk Industries from $111.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.38.

Mohawk Industries 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.