Mohawk Industries, Inc. (NYSE:MHK) is Heartland Advisors Inc.’s 2nd Largest Position

Heartland Advisors Inc. grew its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 288,401 shares of the company’s stock after purchasing an additional 11,964 shares during the period. Mohawk Industries comprises approximately 1.9% of Heartland Advisors Inc.’s holdings, making the stock its 2nd largest holding. Heartland Advisors Inc.’s holdings in Mohawk Industries were worth $34,357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Citigroup Inc. increased its stake in Mohawk Industries by 43.8% in the 3rd quarter. Citigroup Inc. now owns 66,251 shares of the company’s stock worth $10,645,000 after buying an additional 20,167 shares during the period. Cerity Partners LLC bought a new position in Mohawk Industries in the 3rd quarter worth about $1,935,000. Daiwa Securities Group Inc. grew its stake in Mohawk Industries by 13.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,417 shares of the company’s stock worth $388,000 after acquiring an additional 286 shares in the last quarter. Bank of Montreal Can increased its position in shares of Mohawk Industries by 64.6% during the third quarter. Bank of Montreal Can now owns 139,867 shares of the company’s stock worth $22,212,000 after acquiring an additional 54,914 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in shares of Mohawk Industries during the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $113.44, for a total transaction of $1,191,120.00. Following the completion of the sale, the insider now owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 17.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MHK has been the topic of several research analyst reports. Evercore ISI dropped their price objective on Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating on the stock in a research note on Monday, February 10th. Loop Capital dropped their price target on Mohawk Industries from $180.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Bank of America decreased their price objective on Mohawk Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 10th. Truist Financial dropped their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company reduced their price target on shares of Mohawk Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.92.

Mohawk Industries Price Performance

Shares of MHK opened at $117.22 on Friday. The company has a 50 day moving average of $119.31 and a two-hundred day moving average of $132.66. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a twelve month low of $104.88 and a twelve month high of $164.29. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

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.