Fifth Third Bancorp Grows Stake in Mohawk Industries, Inc. $MHK

Fifth Third Bancorp lifted its stake in Mohawk Industries, Inc. (NYSE:MHK) by 789.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,394 shares of the company’s stock after buying an additional 19,875 shares during the period. Fifth Third Bancorp’s holdings in Mohawk Industries were worth $2,205,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Mohawk Industries by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,138,557 shares of the company’s stock worth $343,045,000 after acquiring an additional 53,545 shares during the period. State Street Corp raised its stake in shares of Mohawk Industries by 2.1% during the second quarter. State Street Corp now owns 1,915,831 shares of the company’s stock valued at $200,856,000 after purchasing an additional 39,556 shares during the period. AQR Capital Management LLC boosted its stake in shares of Mohawk Industries by 15.9% in the fourth quarter. AQR Capital Management LLC now owns 1,829,347 shares of the company’s stock valued at $199,948,000 after purchasing an additional 251,012 shares during the period. Pzena Investment Management LLC grew its holdings in Mohawk Industries by 0.6% during the 4th quarter. Pzena Investment Management LLC now owns 1,186,400 shares of the company’s stock valued at $129,674,000 after purchasing an additional 7,332 shares in the last quarter. Finally, Brandes Investment Partners LP grew its holdings in Mohawk Industries by 20.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,102,574 shares of the company’s stock valued at $120,513,000 after purchasing an additional 186,649 shares in the last quarter. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Stock Up 0.1%

MHK stock opened at $108.06 on Wednesday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 2.67 and a beta of 1.18. Mohawk Industries, Inc. has a 1-year low of $92.99 and a 1-year high of $143.13. The firm has a fifty day moving average price of $108.62 and a two-hundred day moving average price of $111.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.16 and a quick ratio of 1.23.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Mohawk Industries had a return on equity of 6.96% and a net margin of 3.77%.The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. Mohawk Industries has set its Q2 2026 guidance at 2.500-2.600 EPS. Research analysts predict that Mohawk Industries, Inc. will post 8.71 EPS for the current year.

Insider Buying and Selling

In related news, insider Suzanne L. Helen sold 16,600 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $112.97, for a total transaction of $1,875,302.00. Following the sale, the insider owned 14,132 shares of the company’s stock, valued at $1,596,492.04. The trade was a 54.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey S. Lorberbaum sold 4,500 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $112.08, for a total transaction of $504,360.00. Following the completion of the sale, the chief executive officer owned 20,000 shares in the company, valued at approximately $2,241,600. This trade represents a 18.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 40,186 shares of company stock valued at $4,460,321. Company insiders own 17.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MHK. Zacks Research upgraded shares of Mohawk Industries from a “strong sell” rating to a “hold” rating in a report on Friday, June 19th. Truist Financial dropped their target price on Mohawk Industries from $155.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Robert W. Baird reduced their price target on Mohawk Industries from $118.00 to $112.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Wells Fargo & Company lowered their price objective on Mohawk Industries from $125.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Finally, Evercore set a $110.00 target price on Mohawk Industries in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Mohawk Industries currently has a consensus rating of “Hold” and an average target price of $124.42.

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.