Shapiro Capital Management LLC Lowers Position in Mohawk Industries, Inc. (NYSE:MHK)

Shapiro Capital Management LLC reduced its stake in Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 10.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 687,027 shares of the company's stock after selling 80,138 shares during the quarter. Mohawk Industries makes up 2.8% of Shapiro Capital Management LLC's investment portfolio, making the stock its 20th largest holding. Shapiro Capital Management LLC owned 1.09% of Mohawk Industries worth $81,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Resona Asset Management Co. Ltd. purchased a new stake in shares of Mohawk Industries during the 4th quarter valued at $41,000. R Squared Ltd purchased a new stake in shares of Mohawk Industries during the 4th quarter valued at $66,000. Huntington National Bank increased its position in shares of 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 during the last quarter. Jones Financial Companies Lllp increased its position in shares of Mohawk Industries by 233.0% during the 4th quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock valued at $85,000 after purchasing an additional 501 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Mohawk Industries during the 4th quarter valued at $88,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Trading Up 0.4%

MHK stock opened at $107.73 on Friday. The company has a market capitalization of $6.74 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. Mohawk Industries, Inc. has a one year low of $96.24 and a one year high of $164.29. The company's 50 day moving average price is $108.20 and its two-hundred day moving average price is $120.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.56 billion. Mohawk Industries had a net margin of 4.78% and a return on equity of 8.04%. The business's revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. As a group, analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MHK shares. Raymond James restated a "strong-buy" rating and issued a $165.00 price objective (down from $185.00) on shares of Mohawk Industries in a research note on Monday, February 10th. StockNews.com cut Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Loop Capital lowered their price objective on Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Evercore ISI lowered 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $140.00.

Insider Activity

In related 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 value of $1,191,120.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 17.40% of the company's stock.

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.

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