Heartland Advisors Inc. Trims Stock Position in Mohawk Industries, Inc. (NYSE:MHK)

Heartland Advisors Inc. trimmed its holdings in Mohawk Industries, Inc. (NYSE:MHKFree Report) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 294,508 shares of the company’s stock after selling 18,929 shares during the period. Mohawk Industries comprises about 1.6% of Heartland Advisors Inc.’s investment portfolio, making the stock its 5th largest holding. Heartland Advisors Inc.’s holdings in Mohawk Industries were worth $30,482,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MHK. Huntington National Bank grew its position in shares of Mohawk Industries by 36.0% in the 3rd quarter. Huntington National Bank now owns 540 shares of the company’s stock valued at $46,000 after purchasing an additional 143 shares during the period. Allworth Financial LP lifted its stake in Mohawk Industries by 88.1% in the fourth quarter. Allworth Financial LP now owns 521 shares of the company’s stock valued at $54,000 after buying an additional 244 shares in the last quarter. Signaturefd LLC lifted its stake in Mohawk Industries by 29.4% in the fourth quarter. Signaturefd LLC now owns 563 shares of the company’s stock valued at $58,000 after buying an additional 128 shares in the last quarter. Byrne Asset Management LLC bought a new position in Mohawk Industries in the fourth quarter valued at approximately $101,000. Finally, Fifth Third Bancorp lifted its stake in Mohawk Industries by 17.3% in the third quarter. Fifth Third Bancorp now owns 1,901 shares of the company’s stock valued at $163,000 after buying an additional 281 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Performance

NYSE MHK traded up $1.95 on Tuesday, hitting $123.02. 694,874 shares of the stock were exchanged, compared to its average volume of 692,896. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02. The business’s fifty day moving average is $119.30 and its 200 day moving average is $106.61. Mohawk Industries, Inc. has a 52 week low of $76.02 and a 52 week high of $131.19. The company has a market capitalization of $7.86 billion, a PE ratio of -18.81, a P/E/G ratio of 1.19 and a beta of 1.35.

Mohawk Industries (NYSE:MHKGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm posted $1.75 earnings per share. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. Research analysts anticipate that Mohawk Industries, Inc. will post 9.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Rodney David Patton sold 1,551 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $119.51, for a total transaction of $185,360.01. Following the completion of the sale, the vice president now directly owns 15,321 shares in the company, valued at approximately $1,831,012.71. The sale was disclosed in a filing with the SEC, which is available through this link. 17.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Truist Financial lifted their price target on shares of Mohawk Industries from $127.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Barclays cut their price target on shares of Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. StockNews.com raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Finally, Loop Capital cut their price objective on shares of Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Mohawk Industries currently has an average rating of “Hold” and an average price target of $121.33.

Read Our Latest Report on Mohawk Industries

Mohawk Industries Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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