Mohawk Industries, Inc. $MHK Shares Bought by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Mohawk Industries, acquiring an additional 12,558 shares, resulting in an 18.1% ownership increase for a total of 81,773 shares valued at $9.3 million.
• Other institutional investors, such as JPMorgan Chase & Co. and Dimensional Fund Advisors, also raised their holdings in Mohawk Industries, contributing to institutional ownership comprising 78.98% of the stock.
• Recent analyst ratings show mixed reviews for Mohawk Industries, with two analysts giving a Strong Buy rating, while others suggest a hold, reflecting a current average price target of $140.14.

Hsbc Holdings PLC grew its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 18.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,773 shares of the company's stock after acquiring an additional 12,558 shares during the quarter. Hsbc Holdings PLC owned about 0.13% of Mohawk Industries worth $9,308,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Sound Shore Management Inc. CT bought a new stake in Mohawk Industries during the first quarter valued at about $61,159,000. JPMorgan Chase & Co. raised its holdings in Mohawk Industries by 12.8% in the first quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company's stock worth $414,017,000 after purchasing an additional 410,388 shares in the last quarter. Millennium Management LLC lifted its position in shares of Mohawk Industries by 66.2% during the fourth quarter. Millennium Management LLC now owns 898,322 shares of the company's stock valued at $107,017,000 after buying an additional 357,687 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Mohawk Industries by 12,165.8% in the 1st quarter. GAMMA Investing LLC now owns 310,570 shares of the company's stock valued at $35,461,000 after buying an additional 308,038 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Mohawk Industries by 394.5% in the 4th quarter. Two Sigma Investments LP now owns 313,547 shares of the company's stock worth $37,353,000 after buying an additional 250,145 shares during the last quarter. 78.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MHK has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Mohawk Industries from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Wall Street Zen lowered Mohawk Industries from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Robert W. Baird increased their price objective on Mohawk Industries from $130.00 to $142.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Evercore ISI decreased their price objective 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. Finally, JPMorgan Chase & Co. increased their price objective on Mohawk Industries from $139.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.14.

Mohawk Industries Stock Performance

MHK stock traded up $0.41 during midday trading on Friday, reaching $132.89. The stock had a trading volume of 570,693 shares, compared to its average volume of 819,755. The stock has a market cap of $8.26 billion, a PE ratio of 17.67, a P/E/G ratio of 2.89 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. The firm has a fifty day simple moving average of $117.53 and a two-hundred day simple moving average of $111.54. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued 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. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.The firm's quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $3.00 EPS. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. As a group, equities research analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, Director Bernard Thiers sold 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $128.21, for a total transaction of $1,282,100.00. Following the sale, the director directly owned 105,532 shares of the company's stock, valued at approximately $13,530,257.72. This trade represents a 8.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rodney David Patton sold 700 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $128.05, for a total value of $89,635.00. Following the sale, the vice president directly owned 17,804 shares in the company, valued at $2,279,802.20. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,500 shares of company stock worth $3,905,221. Insiders own 17.40% of the company's stock.

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.