Mohawk Industries, Inc. $MHK Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 7.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,645 shares of the company’s stock after buying an additional 173 shares during the quarter. Fifth Third Bancorp’s holdings in Mohawk Industries were worth $277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Mohawk Industries by 13.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,915 shares of the company’s stock worth $787,000 after buying an additional 831 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Mohawk Industries by 78.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,574 shares of the company’s stock worth $408,000 after buying an additional 1,566 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Mohawk Industries by 12.8% during the first quarter. JPMorgan Chase & Co. now owns 3,626,004 shares of the company’s stock worth $414,017,000 after buying an additional 410,388 shares in the last quarter. Truist Financial Corp grew its position in shares of Mohawk Industries by 7.9% during the first quarter. Truist Financial Corp now owns 403,936 shares of the company’s stock worth $46,121,000 after buying an additional 29,480 shares in the last quarter. Finally, QSM Asset Management Ltd boosted its holdings in Mohawk Industries by 25.0% in the first quarter. QSM Asset Management Ltd now owns 63,566 shares of the company’s stock valued at $7,160,000 after purchasing an additional 12,700 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,500 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $120.60, for a total value of $301,500.00. Following the completion of the transaction, the insider owned 91,084 shares in the company, valued at approximately $10,984,730.40. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Rodney David Patton sold 700 shares of the 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 transaction, the vice president owned 17,804 shares of the company’s stock, valued at $2,279,802.20. The trade was a 3.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,791 shares of company stock worth $4,357,225. 17.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MHK. Wells Fargo & Company upped their price target on Mohawk Industries from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Robert W. Baird upped their price target on Mohawk Industries from $130.00 to $142.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Barclays upped their price target on Mohawk Industries from $111.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on Mohawk Industries from $139.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $123.00 price target (up from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $141.93.

Mohawk Industries Trading Up 0.7%

NYSE:MHK opened at $128.98 on Wednesday. The stock has a fifty day moving average price of $127.97 and a two-hundred day moving average price of $113.97. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 2.79 and a beta of 1.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. Mohawk Industries, Inc. has a 1 year low of $96.24 and a 1 year high of $164.29.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.15. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.Mohawk Industries’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.00 earnings per share. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. As a group, sell-side analysts anticipate that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

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.