Royal Bank of Canada Grows Stake in Mohawk Industries, Inc. $MHK

Royal Bank of Canada raised its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 15.1% during the first quarter, HoldingsChannel.com reports. The firm owned 63,247 shares of the company’s stock after buying an additional 8,306 shares during the period. Royal Bank of Canada’s holdings in Mohawk Industries were worth $6,227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bayforest Capital Ltd acquired a new stake in shares of Mohawk Industries in the 4th quarter worth $27,000. Global Retirement Partners LLC increased its position in Mohawk Industries by 950.0% during the 4th quarter. Global Retirement Partners LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 228 shares in the last quarter. Transamerica Financial Advisors LLC increased its position in Mohawk Industries by 216.1% during the 4th quarter. Transamerica Financial Advisors LLC now owns 275 shares of the company’s stock valued at $30,000 after buying an additional 188 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in Mohawk Industries by 105.7% in the first quarter. SJS Investment Consulting Inc. now owns 323 shares of the company’s stock valued at $32,000 after buying an additional 166 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in Mohawk Industries in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Stock Performance

Shares of MHK stock opened at $136.53 on Wednesday. Mohawk Industries, Inc. has a 52-week low of $92.99 and a 52-week high of $143.13. The company has a quick ratio of 1.13, a current ratio of 1.92 and a debt-to-equity ratio of 0.14. The stock has a market cap of $9.25 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. The business has a 50-day simple moving average of $115.38 and a 200-day simple moving average of $112.04.

Mohawk Industries (NYSE:MHK) last posted its earnings results on Thursday, July 30th. The company reported $3.67 EPS for the quarter, topping 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 firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period last year, the company earned $2.77 earnings per share. Mohawk Industries’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, equities analysts expect that Mohawk Industries, Inc. will post 9.69 EPS for the current year.

Insider Activity

In related news, Director Bernard Thiers sold 13,393 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $134.98, for a total transaction of $1,807,787.14. Following the sale, the director directly owned 93,633 shares of the company’s stock, valued at approximately $12,638,582.34. This represents a 12.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey S. Lorberbaum sold 5,764 shares of Mohawk Industries stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $131.76, for a total transaction of $759,464.64. Following the completion of the transaction, the chief executive officer directly owned 79,625 shares of the company’s stock, valued at $10,491,390. The trade was a 6.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 119,882 shares of company stock worth $14,992,118 over the last 90 days. Company insiders own 17.90% of the company’s stock.

Analyst Ratings Changes

MHK has been the topic of a number of research analyst reports. Bank of America restated a “neutral” rating and set a $122.00 price target (down from $149.00) on shares of Mohawk Industries in a research note on Monday, April 20th. Wells Fargo & Company lifted their target price on shares of Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Evercore set a $110.00 target price on shares of Mohawk Industries in a research report on Monday, May 4th. Barclays upped their price target on shares of Mohawk Industries from $109.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Finally, Truist Financial lifted their price objective on shares of Mohawk Industries from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Mohawk Industries has a consensus rating of “Hold” and a consensus target price of $130.50.

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.