Mohawk Industries, Inc. (NYSE:MHK) is Olstein Capital Management L.P.’s 6th Largest Position

Olstein Capital Management L.P. lowered its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 24.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 82,000 shares of the company’s stock after selling 27,000 shares during the quarter. Mohawk Industries comprises 1.8% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 6th biggest holding. Olstein Capital Management L.P. owned about 0.13% of Mohawk Industries worth $10,733,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Mohawk Industries by 1,152.0% during the fourth quarter. Pacer Advisors Inc. now owns 796,736 shares of the company’s stock worth $82,462,000 after purchasing an additional 733,097 shares during the last quarter. Norges Bank purchased a new position in Mohawk Industries during the 4th quarter worth approximately $68,050,000. Dimensional Fund Advisors LP increased its position in Mohawk Industries by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,459,303 shares of the company’s stock worth $254,543,000 after buying an additional 317,278 shares during the period. ARGA Investment Management LP increased its position in Mohawk Industries by 50.8% during the fourth quarter. ARGA Investment Management LP now owns 500,159 shares of the company’s stock worth $51,766,000 after buying an additional 168,401 shares during the period. Finally, Brandes Investment Partners LP lifted its stake in Mohawk Industries by 22.4% in the fourth quarter. Brandes Investment Partners LP now owns 816,138 shares of the company’s stock valued at $84,470,000 after buying an additional 149,370 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 1,800 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $111.74, for a total transaction of $201,132.00. Following the sale, the insider now directly owns 122,369 shares in the company, valued at $13,673,512.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on MHK shares. Royal Bank of Canada upped their price target on shares of Mohawk Industries from $106.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. Truist Financial increased their target price on shares of Mohawk Industries from $127.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Barclays dropped their price target on Mohawk Industries from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. JPMorgan Chase & Co. increased their price objective on Mohawk Industries from $122.00 to $124.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Loop Capital dropped their target price on Mohawk Industries from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.20.

Mohawk Industries Price Performance

Shares of NYSE MHK traded down $0.48 during trading on Wednesday, hitting $109.85. 230,475 shares of the company were exchanged, compared to its average volume of 681,103. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.83 and a quick ratio of 1.02. Mohawk Industries, Inc. has a 1 year low of $76.02 and a 1 year high of $131.19. The company has a market cap of $7.02 billion, a price-to-earnings ratio of -16.87, a PEG ratio of 1.12 and a beta of 1.38. The firm’s fifty day moving average price is $115.63 and its 200 day moving average price is $113.47.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.72%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The firm’s revenue was down 4.5% on a year-over-year basis. On average, sell-side analysts expect that Mohawk Industries, Inc. will post 9.68 earnings per share for the current fiscal year.

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.