Geode Capital Management LLC Purchases 4,085 Shares of Mohawk Industries, Inc. $MHK

Geode Capital Management LLC grew its position in Mohawk Industries, Inc. (NYSE:MHK) by 0.3% during the second quarter, HoldingsChannel.com reports. The firm owned 1,358,212 shares of the company’s stock after buying an additional 4,085 shares during the quarter. Geode Capital Management LLC’s holdings in Mohawk Industries were worth $142,124,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MHK. Federated Hermes Inc. raised its position in Mohawk Industries by 326.3% in 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 during the last quarter. Brooklyn Investment Group raised its holdings in shares of Mohawk Industries by 2,506.3% in the first quarter. Brooklyn Investment Group now owns 417 shares of the company’s stock valued at $48,000 after purchasing an additional 401 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its position in shares of Mohawk Industries by 40.6% in the first 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. Acadian Asset Management LLC bought a new stake in shares of Mohawk Industries in the first quarter worth $149,000. Finally, Asset Management One Co. Ltd. boosted its holdings in Mohawk Industries by 12.4% during the second quarter. Asset Management One Co. Ltd. now owns 1,717 shares of the company’s stock worth $180,000 after purchasing an additional 190 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,200 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $137.19, for a total value of $301,818.00. Following the transaction, the insider directly owned 85,493 shares of the company’s stock, valued at $11,728,784.67. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 7,206 shares of company stock valued at $900,089 in the last 90 days. 17.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MHK shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $150.00 price target (up from $140.00) on shares of Mohawk Industries in a research note on Tuesday, October 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $123.00 target price (up previously from $119.00) on shares of Mohawk Industries in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their price target on Mohawk Industries from $139.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mohawk Industries in a research report on Friday, October 31st. Finally, Barclays dropped their price objective on Mohawk Industries from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mohawk Industries currently has a consensus rating of “Moderate Buy” and an average price target of $138.46.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $104.05 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $122.31 and its two-hundred day moving average price is $116.52. The company has a market cap of $6.43 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 2.38 and a beta of 1.31. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $146.93.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, October 23rd. The company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.73 billion. Mohawk Industries had a net margin of 3.93% and a return on equity of 6.97%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.90 earnings per share. Mohawk Industries has set its Q4 2025 guidance at 1.900-2.000 EPS. On average, analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

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.