Heartland Advisors Inc. Increases Stake in Mohawk Industries, Inc. (NYSE:MHK)

Heartland Advisors Inc. increased its stake in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,401 shares of the company's stock after purchasing an additional 11,964 shares during the quarter. Mohawk Industries comprises about 1.9% of Heartland Advisors Inc.'s portfolio, making the stock its 2nd biggest position. Heartland Advisors Inc. owned 0.46% of Mohawk Industries worth $34,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Mohawk Industries during the third quarter valued at $36,000. Wilmington Savings Fund Society FSB acquired a new position in Mohawk Industries during the 3rd quarter valued at about $55,000. True Wealth Design LLC bought a new position in shares of Mohawk Industries in the 3rd quarter valued at about $61,000. Versant Capital Management Inc boosted its stake in shares of Mohawk Industries by 71.0% in the 4th quarter. Versant Capital Management Inc now owns 537 shares of the company's stock valued at $64,000 after purchasing an additional 223 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Mohawk Industries during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 78.98% of the company's stock.

Insider Activity at Mohawk Industries

In other news, insider Suzanne L. Helen sold 10,500 shares of the company's stock in a transaction on 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 directly owns 93,584 shares in the company, valued at approximately $10,616,168.96. This represents a 10.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.10% of the stock is currently owned by corporate insiders.

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Mohawk Industries Stock Performance

Shares of MHK traded up $1.18 during trading hours on Tuesday, hitting $115.36. The company had a trading volume of 170,769 shares, compared to its average volume of 721,628. The business has a fifty day moving average of $118.70 and a 200-day moving average of $131.93. The company has a quick ratio of 1.12, a current ratio of 2.06 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.44 and a beta of 1.44. Mohawk Industries, Inc. has a 12 month low of $104.88 and a 12 month high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. Equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MHK has been the topic of a number of recent research reports. Barclays reduced their price objective on shares of Mohawk Industries from $130.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Monday, February 10th. Robert W. Baird reduced their price target on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company dropped their price objective on Mohawk Industries from $135.00 to $130.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. The Goldman Sachs Group lowered their target price on shares of Mohawk Industries from $170.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, Raymond James reissued a "strong-buy" rating and issued a $165.00 price target (down previously from $185.00) on shares of Mohawk Industries in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Mohawk Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.07.

Mohawk Industries Company Profile

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.