Bank of America Corp DE Grows Stock Position in Mohawk Industries, Inc. $MHK

Key Points

• Bank of America increased its Mohawk Industries position by 68% in the first quarter, bringing its holdings to 444,345 shares worth approximately $43.8 million. Institutional investors and hedge funds collectively own 78.98% of MHK.
• Mohawk reported quarterly EPS of $3.67, exceeding estimates of $2.58, while revenue rose 6.8% year over year to $2.99 billion. The company guided for third-quarter EPS of $2.38–$2.48.
• Analyst sentiment remains cautious, with an overall “Hold” rating and a consensus price target of $130.50, below the stock’s reported $136.47 price. Meanwhile, company insiders sold nearly 120,000 shares worth about $15 million over the past 90 days.

Bank of America Corp DE lifted its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 68.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 444,345 shares of the company's stock after acquiring an additional 179,925 shares during the period. Bank of America Corp DE owned 0.73% of Mohawk Industries worth $43,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in MHK. Norges Bank purchased a new stake in shares of Mohawk Industries during the fourth quarter worth $77,528,000. AQR Capital Management LLC lifted its stake in shares of Mohawk Industries by 73.9% in the third quarter. AQR Capital Management LLC now owns 1,578,335 shares of the company's stock worth $200,922,000 after buying an additional 670,601 shares in the last quarter. Steadfast Capital Management LP boosted its position in Mohawk Industries by 96.3% during the third quarter. Steadfast Capital Management LP now owns 937,301 shares of the company's stock worth $120,837,000 after acquiring an additional 459,700 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in Mohawk Industries during the 3rd quarter valued at about $36,076,000. Finally, Gendell Jeffrey L raised its holdings in Mohawk Industries by 136.3% in the 4th quarter. Gendell Jeffrey L now owns 445,669 shares of the company's stock valued at $48,712,000 after acquiring an additional 257,100 shares during the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Mohawk Industries Trading Down 0.2%

MHK opened at $136.47 on Thursday. The stock has a market capitalization of $9.24 billion, a PE ratio of 18.08, a P/E/G ratio of 2.02 and a beta of 1.18. Mohawk Industries, Inc. has a one year low of $92.99 and a one year high of $143.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.92. The business's 50 day moving average price is $116.02 and its 200 day moving average price is $112.11.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $3.67 earnings per share (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 company had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.79 billion. During the same quarter last year, the firm earned $2.77 earnings per share. The firm's quarterly revenue 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. As a group, equities research analysts expect that Mohawk Industries, Inc. will post 9.69 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on MHK. Wall Street Zen raised shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. Weiss Ratings raised Mohawk Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Barclays lifted their price objective on Mohawk Industries from $109.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. dropped their target price on Mohawk Industries from $143.00 to $138.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. Finally, Zacks Research raised Mohawk Industries from a "strong sell" rating to a "hold" rating in a research note on Friday, June 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $130.50.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, Director Bernard Thiers sold 13,393 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 93,633 shares of the company's stock, valued at $12,638,582.34. This trade represents a 12.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 53,314 shares of Mohawk Industries stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $131.57, for a total transaction of $7,014,522.98. Following the sale, the chief executive officer owned 10,000 shares of the company's stock, valued at approximately $1,315,700. This represents a 84.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 119,882 shares of company stock valued at $14,992,118 over the last 90 days. 17.90% of the stock is owned by insiders.

Mohawk Industries Company Profile

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.

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