Olstein Capital Management L.P. Grows Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Olstein Capital Management L.P. raised its position in Mohawk Industries, Inc. (NYSE:MHK) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,582 shares of the company’s stock after buying an additional 582 shares during the period. Mohawk Industries accounts for 1.5% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 20th biggest holding. Olstein Capital Management L.P. owned 0.11% of Mohawk Industries worth $8,059,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MHK. Resona Asset Management Co. Ltd. bought a new position in shares of Mohawk Industries in the fourth quarter valued at approximately $41,000. Huntington National Bank boosted its position in Mohawk Industries by 27.4% in the fourth quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $66,000 after purchasing an additional 119 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Mohawk Industries by 233.0% in 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 period. Stonebridge Financial Group LLC purchased a new stake in shares of Mohawk Industries during the 4th quarter valued at $88,000. Finally, Mufg Securities Americas Inc. bought a new stake in shares of Mohawk Industries during the 4th quarter worth $92,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Mohawk Industries Price Performance

MHK stock opened at $101.58 on Monday. The firm has a 50 day moving average of $104.40 and a 200-day moving average of $115.93. The firm has a market capitalization of $6.35 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19. Mohawk Industries, Inc. has a 12 month low of $96.24 and a 12 month high of $164.29. The company has a current ratio of 2.06, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mohawk Industries (NYSE:MHK) last announced its quarterly 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. The firm had revenue of $2.53 billion during 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 quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. As a group, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Suzanne L. Helen sold 10,500 shares of the company’s 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MHK. Evercore ISI decreased their price objective on shares of Mohawk Industries from $150.00 to $140.00 and set an “in-line” rating for the company in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft began coverage on Mohawk Industries in a research report on Tuesday, April 1st. They issued a “hold” rating and a $121.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird cut their price target on Mohawk Industries from $160.00 to $152.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Finally, Barclays lowered their price objective on Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.