Tidal Investments LLC Purchases 9,558 Shares of Mohawk Industries, Inc. $MHK

Tidal Investments LLC grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 18.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,723 shares of the company’s stock after purchasing an additional 9,558 shares during the quarter. Tidal Investments LLC’s holdings in Mohawk Industries were worth $7,489,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Mohawk Industries during the 2nd quarter worth approximately $25,000. Basecamp Wealth Advisors LLC increased its position in Mohawk Industries by 2,281.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock valued at $26,000 after acquiring an additional 251 shares during the period. Elevation Wealth Partners LLC raised its stake in shares of Mohawk Industries by 122.2% during the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock valued at $27,000 after acquiring an additional 121 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Mohawk Industries by 950.0% during 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 during the period. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of Mohawk Industries by 216.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 275 shares of the company’s stock worth $30,000 after purchasing an additional 188 shares during the period. 78.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on MHK shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $121.00 price objective on shares of Mohawk Industries in a report on Tuesday, August 4th. Royal Bank Of Canada lifted their target price on Mohawk Industries from $117.00 to $130.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd. Robert W. Baird upped their price target on Mohawk Industries from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Truist Financial increased their price target on Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company raised their price objective on Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Mohawk Industries presently has a consensus rating of “Hold” and a consensus target price of $130.50.

Insider Transactions at Mohawk Industries

In related news, CEO Jeffrey S. Lorberbaum sold 53,314 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $131.57, for a total transaction of $7,014,522.98. Following the completion of the sale, the chief executive officer owned 10,000 shares of the company’s stock, valued at $1,315,700. This trade represents a 84.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bernard Thiers sold 13,393 shares of Mohawk Industries stock in a transaction that occurred on 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 completion of the sale, the director owned 93,633 shares of the company’s stock, valued at approximately $12,638,582.34. The trade was a 12.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 110,686 shares of company stock valued at $14,048,438. Corporate insiders own 17.90% of the company’s stock.

Mohawk Industries Trading Up 2.1%

MHK opened at $126.84 on Friday. Mohawk Industries, Inc. has a twelve month low of $92.99 and a twelve month high of $140.30. The company has a fifty day moving average of $124.70 and a 200-day moving average of $112.91. The stock has a market cap of $8.59 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.83 and a beta of 1.18. The company has a quick ratio of 1.13, a current ratio of 1.92 and a debt-to-equity ratio of 0.14.

Mohawk Industries (NYSE:MHK) last released its 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. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.79 billion. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. Mohawk Industries’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.77 earnings per share. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. On average, sell-side analysts predict that Mohawk Industries, Inc. will post 9.9 EPS for the current year.

Mohawk Industries Company Profile

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through a broad portfolio that includes carpet, rugs, ceramic and porcelain tile, laminate, hardwood, luxury vinyl tile and other resilient flooring products.

Mohawk markets its products under brands that include Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean, IVC and Durkan. Its products are sold through home improvement retailers, independent flooring dealers, distributors, builders, commercial contractors and other channels.

The company was formed in 1988 through the merger of Mohasco Corporation and Aladdin Mills and is headquartered in Calhoun, Georgia.