Olstein Capital Management L.P. Purchases 582 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Olstein Capital Management L.P. grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 0.8% in the 1st quarter, HoldingsChannel reports. The firm owned 70,582 shares of the company’s stock after acquiring an additional 582 shares during the quarter. Mohawk Industries makes up about 1.5% of Olstein Capital Management L.P.’s holdings, making the stock its 20th biggest holding. Olstein Capital Management L.P.’s holdings in Mohawk Industries were worth $8,059,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Resona Asset Management Co. Ltd. bought a new position in shares of Mohawk Industries during the 4th quarter valued at $41,000. Huntington National Bank boosted its position in Mohawk Industries by 27.4% during the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock valued at $66,000 after buying an additional 119 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Mohawk Industries by 233.0% during the fourth quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $85,000 after buying an additional 501 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Mohawk Industries during the fourth quarter valued at about $88,000. Finally, Mufg Securities Americas Inc. purchased a new position in shares of Mohawk Industries in the fourth quarter worth about $92,000. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $101.58 on Monday. Mohawk Industries, Inc. has a fifty-two week low of $96.24 and a fifty-two week high of $164.29. The stock’s 50 day simple moving average is $104.40 and its two-hundred day simple moving average is $115.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 2.06. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.44 and a beta of 1.19.

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

Insider Activity

In other Mohawk Industries news, insider Suzanne L. Helen sold 10,500 shares of Mohawk Industries stock in a transaction that occurred on 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 approximately $10,616,168.96. The trade was a 10.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Raymond James restated a “strong-buy” rating and set a $165.00 price target (down from $185.00) on shares of Mohawk Industries in a research report on Monday, February 10th. Wall Street Zen cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Truist Financial lowered their price target 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 on the stock in a report on Monday, May 5th. Finally, Robert W. Baird lowered their price objective 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 equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.00.

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.