Hsbc Holdings PLC Raises Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Hsbc Holdings PLC increased its position in Mohawk Industries, Inc. (NYSE:MHK) by 36.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,876 shares of the company’s stock after purchasing an additional 18,562 shares during the period. Hsbc Holdings PLC owned 0.11% of Mohawk Industries worth $7,763,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MHK. Vanguard Personalized Indexing Management LLC boosted its holdings in Mohawk Industries by 18.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,260 shares of the company’s stock worth $484,000 after acquiring an additional 661 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mohawk Industries by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock valued at $344,903,000 after purchasing an additional 292,661 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Mohawk Industries during the second quarter valued at $85,997,000. Thompson Siegel & Walmsley LLC lifted its holdings in Mohawk Industries by 115.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 90,784 shares of the company’s stock valued at $10,312,000 after acquiring an additional 48,653 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Mohawk Industries by 12.8% in the second quarter. Envestnet Asset Management Inc. now owns 61,360 shares of the company’s stock worth $6,970,000 after purchasing an additional 6,984 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on MHK shares. The Goldman Sachs Group raised their target price on Mohawk Industries from $141.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Raymond James raised Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price on the stock in a research note on Monday, June 10th. Wells Fargo & Company lifted their target price on Mohawk Industries from $110.00 to $140.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Finally, Truist Financial lifted their price objective on Mohawk Industries from $135.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Mohawk Industries Price Performance

Shares of Mohawk Industries stock opened at $157.91 on Tuesday. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of -24.15, a price-to-earnings-growth ratio of 1.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. The stock has a 50 day moving average price of $148.63 and a 200-day moving average price of $128.30. Mohawk Industries, Inc. has a one year low of $76.02 and a one year high of $164.05.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 25th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the business earned $2.76 EPS. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts expect that Mohawk Industries, Inc. will post 10 EPS for the current year.

Insider Activity at Mohawk Industries

In related news, VP Rodney David Patton sold 755 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the transaction, the vice president now owns 12,299 shares in the company, valued at approximately $2,002,031.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Mohawk Industries news, VP Rodney David Patton sold 755 shares of Mohawk Industries stock in a transaction on Monday, July 29th. The stock was sold at an average price of $162.78, for a total transaction of $122,898.90. Following the completion of the sale, the vice president now directly owns 12,299 shares of the company’s stock, valued at approximately $2,002,031.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. The disclosure for this sale can be found here. Insiders sold a total of 4,415 shares of company stock worth $673,387 in the last quarter. 17.10% of the stock is owned by company insiders.

About Mohawk Industries

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.