Envestnet Asset Management Inc. Sells 57,698 Shares of Mohawk Industries, Inc. $MHK

Envestnet Asset Management Inc. reduced its stake in Mohawk Industries, Inc. (NYSE:MHK) by 61.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,532 shares of the company’s stock after selling 57,698 shares during the period. Envestnet Asset Management Inc.’s holdings in Mohawk Industries were worth $3,725,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MHK. JPMorgan Chase & Co. grew its holdings in shares of Mohawk Industries by 12.8% in the first quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company’s stock worth $414,017,000 after purchasing an additional 410,388 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Mohawk Industries by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,964,190 shares of the company’s stock valued at $338,444,000 after buying an additional 213,429 shares during the period. Invesco Ltd. grew its holdings in Mohawk Industries by 5.6% in the 1st quarter. Invesco Ltd. now owns 1,821,951 shares of the company’s stock worth $208,030,000 after acquiring an additional 96,568 shares during the last quarter. Ariel Investments LLC grew its holdings in Mohawk Industries by 3.4% in the 1st quarter. Ariel Investments LLC now owns 1,743,574 shares of the company’s stock worth $199,081,000 after acquiring an additional 57,391 shares during the last quarter. Finally, Select Equity Group L.P. increased its position in shares of Mohawk Industries by 3.4% in the first quarter. Select Equity Group L.P. now owns 1,547,651 shares of the company’s stock valued at $176,711,000 after acquiring an additional 50,232 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Trading Down 1.0%

MHK opened at $106.85 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $146.93. The stock has a market cap of $6.61 billion, a PE ratio of 15.90, a PEG ratio of 2.38 and a beta of 1.31. The business has a 50 day moving average of $123.65 and a 200-day moving average of $116.40.

Mohawk Industries (NYSE:MHK) last issued 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 firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Mohawk Industries had a return on equity of 6.97% and a net margin of 3.93%.Mohawk Industries’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.90 earnings per share. Mohawk Industries has set its Q4 2025 guidance at 1.900-2.000 EPS. Equities research analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Transactions at Mohawk Industries

In related news, Director Bernard Thiers sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 105,532 shares in the company, valued at $13,530,257.72. This trade represents a 8.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Rodney David Patton sold 700 shares of Mohawk Industries stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $128.05, for a total transaction of $89,635.00. Following the transaction, the vice president directly owned 17,804 shares of the company’s stock, valued at approximately $2,279,802.20. This trade represents a 3.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,906 shares of company stock valued at $2,409,994 in the last three months. 17.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Evercore ISI set a $124.00 target price on shares of Mohawk Industries in a report on Monday, October 27th. Robert W. Baird increased their price objective on Mohawk Industries from $130.00 to $142.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Royal Bank Of Canada reissued a “sector perform” rating and set a $123.00 target price (up from $119.00) on shares of Mohawk Industries in a research note on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mohawk Industries in a research note on Friday, October 31st. Finally, Barclays cut their price target on shares of Mohawk Industries from $125.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.46.

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.