Comerica Bank Purchases 5,741 Shares of Mohawk Industries, Inc. $MHK

Key Points

• Comerica Bank increased its stake in Mohawk Industries, purchasing an additional 5,741 shares, which raised its ownership by 74.6% to a total of 13,434 shares.
• Mohawk Industries reported earnings of $2.77 per share for the last quarter, exceeding analysts' expectations by $0.15, with revenue reaching $2.80 billion.
• Insider trading activity included notable sales, such as the sale of 10,000 shares by Director Bernard Thiers, marking an 8.66% decrease in their ownership.

Comerica Bank increased its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 74.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,434 shares of the company's stock after purchasing an additional 5,741 shares during the period. Comerica Bank's holdings in Mohawk Industries were worth $1,534,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. lifted its holdings in shares of Mohawk Industries by 326.3% in the 1st quarter. Federated Hermes Inc. now owns 243 shares of the company's stock worth $28,000 after purchasing an additional 186 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Mohawk Industries by 2,506.3% in the 1st quarter. Brooklyn Investment Group now owns 417 shares of the company's stock worth $48,000 after purchasing an additional 401 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in shares of Mohawk Industries by 40.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 481 shares of the company's stock worth $55,000 after purchasing an additional 139 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Mohawk Industries by 36.2% in the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock worth $65,000 after purchasing an additional 158 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new position in shares of Mohawk Industries in the 4th quarter worth $92,000. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Down 0.0%

MHK stock opened at $130.49 on Thursday. The stock's fifty day simple moving average is $119.22 and its two-hundred day simple moving average is $111.83. The company has a current ratio of 2.13, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. Mohawk Industries, Inc. has a 1-year low of $96.24 and a 1-year high of $164.29. The stock has a market cap of $8.11 billion, a P/E ratio of 17.35, a P/E/G ratio of 2.89 and a beta of 1.25.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.15. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the business posted $3.00 earnings per share. The business's revenue for the quarter was up .0% on a year-over-year basis. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. Analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 700 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $128.05, for a total value of $89,635.00. Following the completion of the sale, the vice president directly owned 17,804 shares of the company's stock, valued at $2,279,802.20. This trade represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bernard Thiers sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $128.21, for a total value of $1,282,100.00. Following the completion of the sale, the director directly owned 105,532 shares of the company's stock, valued at $13,530,257.72. This represents a 8.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,500 shares of company stock valued at $3,905,221. Corporate insiders own 17.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Mohawk Industries from $111.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $123.00 price target (up previously from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Wells Fargo & Company upped their price target on Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on Mohawk Industries from $139.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, Evercore ISI decreased their price target on Mohawk Industries from $124.00 to $123.00 and set an "in-line" rating for the company in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Mohawk Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.14.

Mohawk Industries Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.