709,310 Shares in Mohawk Industries, Inc. $MHK Bought by Norges Bank

Norges Bank purchased a new position in Mohawk Industries, Inc. (NYSE:MHK) in the fourth quarter, Holdings Channel.com reports. The fund purchased 709,310 shares of the company’s stock, valued at approximately $77,528,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MHK. Bayforest Capital Ltd purchased a new stake in Mohawk Industries in the fourth quarter worth $27,000. Global Retirement Partners LLC raised its holdings in Mohawk Industries by 950.0% in the fourth quarter. Global Retirement Partners LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 228 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Mohawk Industries in the fourth quarter worth $43,000. Danske Bank A S bought a new position in Mohawk Industries in the third quarter worth $52,000. Finally, Advisory Services Network LLC bought a new position in Mohawk Industries in the third quarter worth $64,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 5,658 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $105.19, for a total transaction of $595,165.02. Following the completion of the transaction, the insider directly owned 61,935 shares in the company, valued at $6,514,942.65. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $105.53, for a total value of $527,650.00. Following the transaction, the chief executive officer owned 25,000 shares of the company’s stock, valued at $2,638,250. The trade was a 16.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 19,544 shares of company stock valued at $2,037,277 over the last 90 days. Corporate insiders own 17.90% of the company’s stock.

Mohawk Industries Price Performance

Shares of NYSE:MHK opened at $102.73 on Friday. Mohawk Industries, Inc. has a 1-year low of $92.99 and a 1-year high of $143.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.16 and a quick ratio of 1.23. The business has a fifty day moving average price of $102.46 and a 200-day moving average price of $110.82. The company has a market capitalization of $6.26 billion, a PE ratio of 15.40, a PEG ratio of 2.55 and a beta of 1.20.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial decreased their price objective on Mohawk Industries from $155.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Wells Fargo & Company decreased their price objective on Mohawk Industries from $125.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Bank of America reiterated a “neutral” rating and issued a $122.00 price objective (down from $149.00) on shares of Mohawk Industries in a report on Monday, April 20th. Robert W. Baird decreased their price objective on Mohawk Industries from $118.00 to $112.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Finally, Royal Bank Of Canada increased their price objective on Mohawk Industries from $122.00 to $135.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $123.33.

About Mohawk Industries

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.