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

Olstein Capital Management L.P. raised its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 30.4% during the fourth quarter, HoldingsChannel reports. The firm owned 70,000 shares of the company’s stock after purchasing an additional 16,300 shares during the period. Mohawk Industries comprises 1.5% of Olstein Capital Management L.P.’s portfolio, making the stock its 19th largest holding. Olstein Capital Management L.P.’s holdings in Mohawk Industries were worth $8,339,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FMR LLC grew its stake in Mohawk Industries by 52.3% in the third quarter. FMR LLC now owns 2,179,510 shares of the company’s stock valued at $350,204,000 after purchasing an additional 748,070 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Mohawk Industries by 33.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,011,861 shares of the company’s stock valued at $162,586,000 after buying an additional 254,779 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Mohawk Industries in the 2nd quarter worth approximately $21,061,000. Assenagon Asset Management S.A. raised its stake in shares of Mohawk Industries by 482.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 137,122 shares of the company’s stock worth $22,033,000 after acquiring an additional 113,588 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its position in Mohawk Industries by 10.5% during the second quarter. Brandes Investment Partners LP now owns 1,015,640 shares of the company’s stock valued at $115,057,000 after acquiring an additional 96,174 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Analysts Set New Price Targets

MHK has been the topic of a number of recent analyst reports. Barclays reduced their price target on Mohawk Industries from $141.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada reduced their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Robert W. Baird raised Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Wolfe Research upgraded shares of Mohawk Industries from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their target price on shares of Mohawk Industries from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.00.

Mohawk Industries Stock Down 4.1 %

Shares of MHK opened at $125.42 on Friday. The stock’s 50-day moving average price is $127.49 and its 200-day moving average price is $140.82. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.27 and a beta of 1.41. Mohawk Industries, Inc. has a 52 week low of $97.45 and a 52 week high of $164.29.

Insider Transactions at Mohawk Industries

In other Mohawk Industries news, insider Suzanne L. Helen sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $135.48, for a total value of $270,960.00. Following the completion of the transaction, the insider now owns 2,453 shares in the company, valued at approximately $332,332.44. This represents a 44.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 19,078 shares of company stock valued at $2,474,347 in the last 90 days. 17.10% of the stock is currently owned by company insiders.

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.