Mohawk Industries, Inc. (NYSE:MHK) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 72.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 335,176 shares of the company's stock after acquiring an additional 140,647 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.53% of Mohawk Industries worth $39,930,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Heartland Advisors Inc. increased its holdings in Mohawk Industries by 4.3% during the 4th quarter. Heartland Advisors Inc. now owns 288,401 shares of the company's stock worth $34,357,000 after purchasing an additional 11,964 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Mohawk Industries by 22.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 1,707 shares of the company's stock worth $203,000 after buying an additional 314 shares during the last quarter. Norges Bank acquired a new stake in Mohawk Industries in the fourth quarter valued at $61,171,000. UniSuper Management Pty Ltd raised its holdings in Mohawk Industries by 43.9% in the fourth quarter. UniSuper Management Pty Ltd now owns 12,393 shares of the company's stock valued at $1,476,000 after acquiring an additional 3,778 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Mohawk Industries by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock valued at $383,076,000 after acquiring an additional 191,077 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Remove Ads

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $113.44, for a total value 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 $10,616,168.96. This represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 17.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MHK shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Mohawk Industries from $161.00 to $156.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group lowered their price target on Mohawk Industries from $170.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Raymond James restated a "strong-buy" rating and set a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. Finally, Robert W. Baird lowered their target price on shares of Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Mohawk Industries currently has an average rating of "Moderate Buy" and a consensus price target of $145.07.

Mohawk Industries Stock Performance

Mohawk Industries stock traded down $3.59 during midday trading on Monday, reaching $102.06. 1,096,555 shares of the stock traded hands, compared to its average volume of 732,019. The firm has a fifty day moving average price of $116.74 and a two-hundred day moving average price of $130.28. Mohawk Industries, Inc. has a fifty-two week low of $100.56 and a fifty-two week high of $164.29. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.44 and a beta of 1.23. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. On average, equities research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current 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.