Shapiro Capital Management LLC Trims Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Shapiro Capital Management LLC lowered its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 687,027 shares of the company’s stock after selling 80,138 shares during the period. 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’s holdings in Mohawk Industries were worth $81,846,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sherbrooke Park Advisers LLC lifted its stake in shares of Mohawk Industries by 103.8% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 3,414 shares of the company’s stock worth $407,000 after buying an additional 1,739 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in Mohawk Industries by 19.7% in the 4th quarter. Rafferty Asset Management LLC now owns 21,442 shares of the company’s stock worth $2,554,000 after purchasing an additional 3,528 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Mohawk Industries during the 4th quarter valued at approximately $14,223,000. ProShare Advisors LLC lifted its stake in Mohawk Industries by 14.9% during the 4th quarter. ProShare Advisors LLC now owns 7,599 shares of the company’s stock valued at $905,000 after acquiring an additional 985 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new stake in Mohawk Industries during the 4th quarter valued at approximately $92,000. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Trading Up 0.4%

Shares of NYSE MHK opened at $107.73 on Friday. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.44 and a beta of 1.24. 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 business has a fifty day simple moving average of $108.20 and a 200-day simple moving average of $120.33.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, May 1st. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business posted $1.86 earnings per share. Mohawk Industries’s revenue was down 5.7% compared to the same quarter last year. Sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Activity

In other news, insider Suzanne L. Helen sold 10,500 shares of the 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 transaction, the insider now owns 93,584 shares of the company’s stock, valued at approximately $10,616,168.96. This represents a 10.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 17.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on MHK. Loop Capital decreased their price objective on shares of Mohawk Industries from $180.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. cut their target price on shares of Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Truist Financial cut their target price on shares of Mohawk Industries from $155.00 to $148.00 and set a “buy” rating for the company in a report on Monday, February 10th. Barclays cut their price target on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. Finally, Royal Bank of Canada cut their price target on shares of Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a report on Monday, May 5th. Seven 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

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.