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

Olstein Capital Management L.P. cut its position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 34.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,700 shares of the company's stock after selling 28,300 shares during the quarter. Mohawk Industries comprises about 1.5% of Olstein Capital Management L.P.'s holdings, making the stock its 23rd largest position. Olstein Capital Management L.P. owned 0.09% of Mohawk Industries worth $8,629,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new position in shares of Mohawk Industries in the 2nd quarter worth about $85,997,000. Pacer Advisors Inc. increased its holdings in Mohawk Industries by 42.9% in the second quarter. Pacer Advisors Inc. now owns 1,200,360 shares of the company's stock worth $136,349,000 after purchasing an additional 360,628 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Mohawk Industries by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company's stock valued at $344,903,000 after buying an additional 292,661 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Mohawk Industries by 1,464.0% during the 2nd quarter. Victory Capital Management Inc. now owns 227,357 shares of the company's stock worth $25,825,000 after buying an additional 212,820 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in shares of Mohawk Industries during the 2nd quarter worth approximately $21,061,000. Institutional investors own 78.98% of the company's stock.

Mohawk Industries Stock Down 1.7 %

MHK traded down $2.53 during mid-day trading on Thursday, reaching $145.07. 1,133,851 shares of the stock were exchanged, compared to its average volume of 726,683. Mohawk Industries, Inc. has a 1 year low of $78.30 and a 1 year high of $164.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03. The stock has a market capitalization of $9.16 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38. The company has a 50 day moving average price of $152.02 and a two-hundred day moving average price of $135.09.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Loop Capital increased their target price on shares of Mohawk Industries from $145.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Jefferies Financial Group increased their price objective on shares of Mohawk Industries from $150.00 to $160.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Barclays decreased their target price on Mohawk Industries from $161.00 to $146.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. increased their price target on Mohawk Industries from $124.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company upgraded Mohawk Industries from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $140.00 to $160.00 in a report on Monday, October 7th. Five research 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, the company has an average rating of "Moderate Buy" and a consensus price target of $162.08.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,300 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the transaction, the insider now owns 119,369 shares in the company, valued at $18,042,624.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Suzanne L. Helen sold 660 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the sale, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Suzanne L. Helen sold 2,300 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the completion of the transaction, the insider now owns 119,369 shares in the company, valued at approximately $18,042,624.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.10% of the company's stock.

Mohawk Industries 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.