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

Key Points

• Bank of America acquired 302,199 shares of Mohawk Industries in the second quarter, valued at approximately $36.7 million and representing a 0.45% stake. Institutional investors collectively own 78.98% of the company.
• Mohawk reported quarterly earnings of $3.67 per share, beating estimates by $1.09, while revenue reached $2.99 billion, up 6.8% year over year. The company provided third-quarter 2026 EPS guidance of $2.38–$2.48.
• Insiders sold 172,996 shares worth approximately $22.4 million over the past quarter. Analysts maintain a consensus “Hold” rating, with an average price target of $130.50.

Bank of America Corp DE bought a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 302,199 shares of the company's stock, valued at approximately $36,666,000. Bank of America Corp DE owned 0.45% of Mohawk Industries as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wallace Capital Management Inc. acquired a new position in shares of Mohawk Industries in the second quarter worth $26,548,000. Caisse de depot et placement du Quebec acquired a new position in Mohawk Industries in the 2nd quarter worth about $1,395,000. Man Group plc acquired a new position in Mohawk Industries in the 2nd quarter worth about $547,000. Jupiter Topco LLC purchased a new stake in shares of Mohawk Industries during the 2nd quarter worth about $2,809,000. Finally, III Capital Management purchased a new stake in shares of Mohawk Industries during the 2nd quarter worth about $2,535,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

NYSE MHK opened at $117.82 on Tuesday. Mohawk Industries, Inc. has a twelve month low of $92.99 and a twelve month high of $140.30. 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 $7.98 billion, a P/E ratio of 15.61, a PEG ratio of 1.82 and a beta of 1.18. The company's 50-day simple moving average is $126.60 and its 200 day simple moving average is $113.01.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the previous year, the business earned $2.77 earnings per share. The company's quarterly revenue was up 6.8% on a year-over-year basis. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. As a group, research analysts forecast that Mohawk Industries, Inc. will post 9.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 7,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $131.52, for a total value of $920,640.00. Following the completion of the sale, the insider directly owned 7,132 shares in the company, valued at $938,000.64. This represents a 49.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 53,314 shares of Mohawk Industries stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $1,315,700. The trade was a 84.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 172,996 shares of company stock valued at $22,433,248. 17.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MHK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $121.00 target price on shares of Mohawk Industries in a report on Tuesday, August 4th. Zacks Research upgraded shares of Mohawk Industries from a "strong sell" rating to a "hold" rating in a report on Friday, June 19th. Barclays increased their target price on Mohawk Industries from $109.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Truist Financial upped their price target on Mohawk Industries from $135.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Finally, Robert W. Baird increased their price objective on Mohawk Industries from $112.00 to $132.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $130.50.

Mohawk Industries Profile

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through a broad portfolio that includes carpet, rugs, ceramic and porcelain tile, laminate, hardwood, luxury vinyl tile and other resilient flooring products.

Mohawk markets its products under brands that include Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean, IVC and Durkan. Its products are sold through home improvement retailers, independent flooring dealers, distributors, builders, commercial contractors and other channels.

The company was formed in 1988 through the merger of Mohasco Corporation and Aladdin Mills and is headquartered in Calhoun, Georgia.

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