Fri Sep 20 08:40:47 UTC 2024: ## Mohawk Industries Sees Increased Interest from Investors, Insider Selling Continues

**New York, NY -** Mohawk Industries, Inc. (NYSE: MHK), a leading flooring manufacturer, saw increased activity from institutional investors in the recent quarter, according to filings with the Securities & Exchange Commission (SEC).

Quest Partners LLC, a prominent hedge fund, boosted its stake in Mohawk Industries by 40% during the second quarter, increasing its holdings by 84 shares to a total of 294. This investment was worth $33,000 at the time of filing.

Several other institutional investors also adjusted their positions in MHK. Teacher Retirement System of Texas increased its stake by 74.1%, while Vanguard Personalized Indexing Management LLC established a new position. Robeco Institutional Asset Management B.V. and ING Groep NV also increased their holdings. Notably, Norges Bank made a significant new investment in Mohawk Industries, worth $68,050,000. In total, hedge funds and institutional investors now own 78.98% of Mohawk Industries’ stock.

Despite this positive investor activity, insider Suzanne L. Helen continued to sell shares of the company. In September, she sold 660 shares at an average price of $151.46. This follows previous sales in August, bringing the total number of shares sold by Helen in the past three months to 4,415, totaling $673,387. Insiders now hold 17.10% of the company’s stock.

Mohawk Industries recently reported strong second-quarter earnings, exceeding analyst expectations with $3.00 earnings per share. Revenue for the quarter came in at $2.80 billion, slightly below forecasts. Analysts are predicting 10 EPS for the current fiscal year.

Several investment firms have recently issued reports on MHK. Wells Fargo & Company, JPMorgan Chase & Co., Robert W. Baird, Truist Financial, and The Goldman Sachs Group all increased their price targets for the stock, with some analysts assigning “buy” ratings. MarketBeat currently gives Mohawk Industries an average rating of “Moderate Buy” with an average target price of $156.00.

Mohawk Industries designs, manufactures, and distributes flooring products globally. The company operates three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.

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