Wallace Capital Management Inc. Acquires New Shares in Mohawk Industries, Inc. $MHK

Wallace Capital Management Inc. bought a new position in shares of Mohawk Industries, Inc. (NYSE:MHK) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 218,805 shares of the company’s stock, valued at approximately $26,548,000. Mohawk Industries accounts for 2.9% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 9th biggest position.

Other hedge funds also recently bought and sold shares of the company. Rexford Capital Inc. boosted its position in shares of Mohawk Industries by 10.1% in the fourth quarter. Rexford Capital Inc. now owns 1,087 shares of the company’s stock valued at $119,000 after acquiring an additional 100 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Mohawk Industries by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,254 shares of the company’s stock valued at $2,224,000 after acquiring an additional 100 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Mohawk Industries by 1.8% during the first quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company’s stock valued at $560,000 after purchasing an additional 101 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Mohawk Industries by 7.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,569 shares of the company’s stock valued at $171,000 after buying an additional 105 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in shares of Mohawk Industries by 122.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock worth $27,000 after purchasing an additional 121 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MHK. Royal Bank Of Canada lifted their target price on shares of Mohawk Industries from $117.00 to $130.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. dropped 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. Truist Financial lifted their price objective on Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen raised Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Finally, Barclays increased their target price on Mohawk Industries from $109.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $130.50.

Mohawk Industries Stock Down 0.8%

Shares of MHK opened at $132.70 on Thursday. The business’s fifty day moving average price is $121.75 and its two-hundred day moving average price is $113.01. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.93 and a beta of 1.18. Mohawk Industries, Inc. has a 52 week low of $92.99 and a 52 week high of $143.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.92.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 30th. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $1.09. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%.The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the firm posted $2.77 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. On average, analysts predict that Mohawk Industries, Inc. will post 9.9 earnings per share for the current year.

Insider Activity at Mohawk Industries

In related news, CEO Jeffrey S. Lorberbaum sold 53,314 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $131.57, for a total value of $7,014,522.98. Following the completion of the sale, the chief executive officer owned 10,000 shares in the company, valued at approximately $1,315,700. This represents a 84.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bernard Thiers sold 13,393 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.98, for a total value of $1,807,787.14. Following the transaction, the director owned 93,633 shares in the company, valued at approximately $12,638,582.34. This trade represents a 12.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,882 shares of company stock worth $14,603,948 over the last ninety days. Company insiders own 17.90% of the company’s stock.

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.