Nisa Investment Advisors LLC Decreases Stock Holdings in Mohawk Industries, Inc. $MHK

Nisa Investment Advisors LLC trimmed its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 6.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,326 shares of the company’s stock after selling 1,600 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Mohawk Industries were worth $2,341,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MHK. Alyeska Investment Group L.P. increased its position in shares of Mohawk Industries by 436.4% during the first quarter. Alyeska Investment Group L.P. now owns 756,030 shares of the company’s stock valued at $86,324,000 after acquiring an additional 615,095 shares during the last quarter. Sound Shore Management Inc. CT purchased a new stake in shares of Mohawk Industries during the first quarter valued at approximately $61,159,000. JPMorgan Chase & Co. increased its position in shares of Mohawk Industries by 12.8% during the first quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company’s stock valued at $414,017,000 after acquiring an additional 410,388 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Mohawk Industries by 677.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 380,770 shares of the company’s stock valued at $43,476,000 after acquiring an additional 331,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Mohawk Industries by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,964,190 shares of the company’s stock valued at $338,444,000 after acquiring an additional 213,429 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MHK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mohawk Industries in a research report on Wednesday, October 8th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $123.00 price target (up previously from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Evercore ISI set a $124.00 price target on Mohawk Industries in a research note on Monday. Vertical Research initiated coverage on Mohawk Industries in a research note on Monday, October 20th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on Mohawk Industries from $139.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Mohawk Industries has a consensus rating of “Moderate Buy” and an average target price of $138.46.

Insider Activity

In other news, insider Suzanne L. Helen sold 2,200 shares of Mohawk Industries stock in a transaction on Friday, September 12th. The stock was sold at an average price of $137.19, for a total value of $301,818.00. Following the completion of the transaction, the insider directly owned 85,493 shares in the company, valued at approximately $11,728,784.67. The trade was 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 the SEC website. Also, Director Bernard Thiers sold 10,000 shares of Mohawk Industries stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $128.21, for a total value of $1,282,100.00. Following the sale, the director directly owned 105,532 shares of the company’s stock, valued at $13,530,257.72. This represents a 8.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 16,291 shares of company stock worth $2,122,765. 17.40% of the stock is owned by corporate insiders.

Mohawk Industries Price Performance

Shares of NYSE MHK opened at $115.54 on Friday. The stock has a market cap of $7.14 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $148.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 2.25. The stock has a fifty day moving average of $128.86 and a 200-day moving average of $116.01.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Mohawk Industries had a net margin of 3.93% and a return on equity of 6.97%. Mohawk Industries’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.90 earnings per share. Mohawk Industries has set its Q4 2025 guidance at 1.900-2.000 EPS. Equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

About Mohawk Industries

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.