Hsbc Holdings PLC Lowers Stock Holdings in Mohawk Industries, Inc. $MHK

Key Points

• HSBC Holdings PLC cut its stake in Mohawk Industries by 67.5% in the fourth quarter, selling 57,555 shares and ending with 27,766 shares worth about $3.0 million.
• Several other institutional investors adjusted their positions as well, and hedge funds and other institutions still own 78.98% of Mohawk Industries’ stock.
• Insiders have been selling shares, including CEO Jeffrey S. Lorberbaum and insider Suzanne L. Helen, while analysts currently rate the stock a consensus “Hold” with a target price of $123.33.

Hsbc Holdings PLC reduced its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 67.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,766 shares of the company's stock after selling 57,555 shares during the period. Hsbc Holdings PLC's holdings in Mohawk Industries were worth $3,044,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MHK. Rexford Capital Inc. boosted its holdings in shares of Mohawk Industries by 10.1% in the fourth quarter. Rexford Capital Inc. now owns 1,087 shares of the company's stock valued at $119,000 after purchasing an additional 100 shares during the period. Public Employees Retirement System of Ohio raised its position in Mohawk Industries by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,254 shares of the company's stock valued at $2,224,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Mohawk Industries by 7.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,569 shares of the company's stock valued at $171,000 after purchasing an additional 105 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Mohawk Industries by 20.7% in the 4th quarter. Signaturefd LLC now owns 671 shares of the company's stock worth $73,000 after buying an additional 115 shares during the period. Finally, Lakewood Asset Management LLC grew its position in shares of Mohawk Industries by 0.9% during the 4th quarter. Lakewood Asset Management LLC now owns 14,656 shares of the company's stock worth $1,602,000 after buying an additional 124 shares in the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jeffrey S. Lorberbaum sold 5,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $105.53, for a total transaction of $527,650.00. Following the completion of the sale, the chief executive officer owned 25,000 shares in the company, valued at approximately $2,638,250. This represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 16,600 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $112.97, for a total value of $1,875,302.00. Following the completion of the sale, the insider directly owned 14,132 shares of the company's stock, valued at $1,596,492.04. The trade was a 54.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 40,186 shares of company stock worth $4,460,321. Insiders own 17.90% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on MHK. Bank of America restated a "neutral" rating and issued a $122.00 price objective (down from $149.00) on shares of Mohawk Industries in a report on Monday, April 20th. JPMorgan Chase & Co. dropped their target price on shares of Mohawk Industries from $143.00 to $138.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Truist Financial cut their target price on shares of Mohawk Industries from $155.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings lowered shares of Mohawk Industries from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, May 21st. Finally, Wall Street Zen raised shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research report on Sunday, June 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $123.33.

Mohawk Industries Stock Performance

MHK stock opened at $119.73 on Monday. Mohawk Industries, Inc. has a one year low of $92.99 and a one year high of $143.13. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.23 and a current ratio of 2.16. The firm has a 50-day simple moving average of $105.77 and a two-hundred day simple moving average of $110.81.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.10. Mohawk Industries had a net margin of 3.77% and a return on equity of 6.96%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the firm earned $1.52 EPS. The company's quarterly revenue was up 8.0% compared to the same quarter last year. Mohawk Industries has set its Q2 2026 guidance at 2.500-2.600 EPS. On average, equities analysts forecast that Mohawk Industries, Inc. will post 8.71 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding MHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mohawk Industries, Inc. (NYSE:MHK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.