Mohawk Industries, Inc. $MHK Holdings Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,511,972 shares of the company’s stock after selling 114,032 shares during the quarter. JPMorgan Chase & Co. owned 0.06% of Mohawk Industries worth $368,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new stake in shares of Mohawk Industries during the second quarter valued at about $337,000. Charles Schwab Investment Management Inc. grew its position in Mohawk Industries by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 540,197 shares of the company’s stock valued at $61,680,000 after buying an additional 5,939 shares in the last quarter. Royal Bank of Canada increased its stake in Mohawk Industries by 34.3% during the 1st quarter. Royal Bank of Canada now owns 91,119 shares of the company’s stock valued at $10,404,000 after buying an additional 23,252 shares during the period. Inspire Investing LLC bought a new stake in shares of Mohawk Industries during the 1st quarter worth about $312,000. Finally, XTX Topco Ltd bought a new stake in shares of Mohawk Industries during the 1st quarter worth about $750,000. 78.98% of the stock is owned by institutional investors.

Mohawk Industries Stock Performance

Shares of NYSE MHK opened at $109.70 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 2.38 and a beta of 1.31. The stock’s fifty day simple moving average is $119.89 and its 200 day simple moving average is $116.65. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $146.93.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, October 23rd. The company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.73 billion. Mohawk Industries had a net margin of 3.93% and a return on equity of 6.97%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.90 EPS. Mohawk Industries has set its Q4 2025 guidance at 1.900-2.000 EPS. As a group, sell-side analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $137.19, for a total transaction of $301,818.00. Following the sale, the insider owned 85,493 shares in the company, valued at $11,728,784.67. The trade was a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,406 shares of company stock valued at $793,753 over the last quarter. Company insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wells Fargo & Company reiterated a “neutral” rating and issued a $130.00 price objective on shares of Mohawk Industries in a report on Monday, October 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Mohawk Industries in a research report on Friday, October 31st. Evercore ISI lowered their price target on Mohawk Industries from $124.00 to $118.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 19th. Vertical Research assumed coverage on Mohawk Industries in a report on Monday, October 20th. They issued a “buy” rating for the company. Finally, Barclays decreased their target price on Mohawk Industries from $125.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.00.

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.