Sound Shore Management Inc CT Buys 148,440 Shares of Mohawk Industries, Inc. $MHK

Sound Shore Management Inc CT lifted its stake in Mohawk Industries, Inc. (NYSE:MHK) by 27.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 684,077 shares of the company’s stock after buying an additional 148,440 shares during the period. Mohawk Industries makes up approximately 2.4% of Sound Shore Management Inc CT’s investment portfolio, making the stock its 26th biggest position. Sound Shore Management Inc CT’s holdings in Mohawk Industries were worth $71,719,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MHK. Federated Hermes Inc. boosted its stake in shares of Mohawk Industries by 326.3% in the first 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 period. Brooklyn Investment Group boosted its stake 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 buying an additional 401 shares during the period. Resona Asset Management Co. Ltd. boosted its stake 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 valued at $55,000 after buying an additional 139 shares during the period. Allworth Financial LP boosted its stake in shares of Mohawk Industries by 36.2% in the first quarter. Allworth Financial LP now owns 595 shares of the company’s stock valued at $65,000 after buying an additional 158 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Mohawk Industries in the first quarter valued at approximately $149,000. 78.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MHK. 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. JPMorgan Chase & Co. upped their target price on Mohawk Industries from $139.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Robert W. Baird upped their target price on Mohawk Industries from $130.00 to $142.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Evercore ISI set a $124.00 target price on Mohawk Industries in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Mohawk Industries in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.46.

Mohawk Industries Stock Down 0.1%

Shares of MHK opened at $110.50 on Thursday. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $148.57. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.38 and a beta of 1.31. 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 $127.20 and a 200-day moving average of $116.35.

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

Insider Activity

In other news, Director Bernard Thiers sold 10,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $128.21, for a total value of $1,282,100.00. Following the completion of the transaction, the director directly owned 105,532 shares in the company, valued at approximately $13,530,257.72. This represents a 8.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 2,200 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $137.19, for a total value of $301,818.00. Following the completion of the transaction, the insider owned 85,493 shares of the company’s stock, valued at $11,728,784.67. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 17,656 shares of company stock worth $2,275,706. Insiders own 17.40% of the company’s stock.

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.