Mohawk Industries, Inc. (NYSE:MHK) is Heartland Advisors Inc.'s 3rd Largest Position

Key Points

• Heartland Advisors Inc. reduced its stake in Mohawk Industries by 19.9%, making it the firm's 3rd largest position.
• Mohawk Industries reported earnings of $2.77 per share, surpassing estimates, with revenue reaching $2.80 billion for the quarter.
• The stock's current analyst ratings show a consensus of "Moderate Buy", with an average price target of $140.71.

Heartland Advisors Inc. lowered its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 231,037 shares of the company's stock after selling 57,364 shares during the quarter. Mohawk Industries accounts for 1.5% of Heartland Advisors Inc.'s portfolio, making the stock its 3rd biggest holding. Heartland Advisors Inc. owned about 0.37% of Mohawk Industries worth $26,380,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. purchased a new position in Mohawk Industries during the 4th quarter valued at $41,000. Huntington National Bank raised its position in Mohawk Industries by 27.4% during the 4th quarter. Huntington National Bank now owns 554 shares of the company's stock valued at $66,000 after purchasing an additional 119 shares in the last quarter. Allworth Financial LP raised its position in Mohawk Industries by 36.2% during the 1st quarter. Allworth Financial LP now owns 595 shares of the company's stock valued at $65,000 after purchasing an additional 158 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in Mohawk Industries during the 4th quarter valued at $92,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Mohawk Industries during the 4th quarter valued at $114,000. Hedge funds and other institutional investors own 78.98% of the company's stock.

Mohawk Industries Stock Down 0.5%

Mohawk Industries stock opened at $116.08 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.13 and a current ratio of 2.01. The business's 50-day simple moving average is $105.75 and its two-hundred day simple moving average is $111.41. The company has a market cap of $7.26 billion, a PE ratio of 15.19, a PEG ratio of 4.31 and a beta of 1.18. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.15. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. The company's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.00 EPS. Equities analysts anticipate that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MHK shares. Wells Fargo & Company lifted their target price on Mohawk Industries from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Wall Street Zen lowered Mohawk Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on Mohawk Industries from $156.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Royal Bank Of Canada reduced their price target on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a research report on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price target for the company. Seven equities research 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $140.71.

Mohawk Industries 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.

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