Hsbc Holdings PLC Sells 26,213 Shares of Mohawk Industries, Inc. $MHK

Key Points

• Hsbc Holdings PLC cut its Mohawk Industries stake by 29.8% in the second quarter, selling 26,213 shares and retaining 61,849 shares worth approximately $7.37 million. Institutional investors collectively own 78.98% of the company.
• Mohawk reported stronger-than-expected quarterly results, with EPS of $3.67 versus the $2.58 consensus and revenue of $2.99 billion, up 6.8% year over year. The company guided for third-quarter EPS of $2.38–$2.48.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and average price target of $130.50. Meanwhile, insiders sold 113,038 shares worth about $14.3 million over the past three months.

Hsbc Holdings PLC reduced its position in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 29.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,849 shares of the company's stock after selling 26,213 shares during the period. Hsbc Holdings PLC owned about 0.09% of Mohawk Industries worth $7,370,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tejara Capital Ltd bought a new position in Mohawk Industries during the 4th quarter valued at about $2,514,000. BNP Paribas Financial Markets raised its holdings in shares of Mohawk Industries by 11.5% during the fourth quarter. BNP Paribas Financial Markets now owns 132,723 shares of the company's stock valued at $14,507,000 after purchasing an additional 13,663 shares during the last quarter. Wilsey Asset Management Inc. lifted its position in Mohawk Industries by 27.4% during the first quarter. Wilsey Asset Management Inc. now owns 303,104 shares of the company's stock valued at $29,844,000 after purchasing an additional 65,235 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Mohawk Industries by 275.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 61,477 shares of the company's stock worth $6,719,000 after purchasing an additional 45,109 shares during the last quarter. Finally, III Capital Management grew its position in Mohawk Industries by 40.2% in the 4th quarter. III Capital Management now owns 41,850 shares of the company's stock worth $4,574,000 after purchasing an additional 12,000 shares during the period. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $128.11 on Thursday. The company's 50-day moving average price is $124.45 and its 200-day moving average price is $112.83. 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 company has a market cap of $8.68 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. Mohawk Industries, Inc. has a twelve month low of $92.99 and a twelve month high of $140.30.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.58 by $1.09. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.79 billion. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%.The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.77 earnings per share. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. On average, equities research analysts forecast that Mohawk Industries, Inc. will post 9.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 1,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $139.48, for a total value of $139,480.00. Following the sale, the insider owned 6,132 shares of the company's stock, valued at approximately $855,291.36. This represents a 14.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey S. Lorberbaum sold 53,314 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $131.57, for a total transaction of $7,014,522.98. Following the completion of the sale, the chief executive officer owned 10,000 shares of the company's stock, valued at $1,315,700. This trade represents a 84.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,038 shares of company stock valued at $14,303,491 in the last three months. Corporate insiders own 17.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Mohawk Industries from $115.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Barclays boosted their price objective on Mohawk Industries from $109.00 to $115.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Royal Bank Of Canada raised their target price on shares of Mohawk Industries from $117.00 to $130.00 and gave the company a "sector perform" rating in a research note on Monday, August 3rd. Weiss Ratings raised Mohawk Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $121.00 price target on shares of Mohawk Industries in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $130.50.

About Mohawk Industries

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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