Floor & Decor Holdings, Inc. $FND is Turtle Creek Asset Management Inc.’s 7th Largest Position

Turtle Creek Asset Management Inc. raised its holdings in Floor & Decor Holdings, Inc. (NYSE:FND) by 41.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,757,643 shares of the company’s stock after purchasing an additional 811,910 shares during the quarter. Floor & Decor accounts for approximately 5.2% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Turtle Creek Asset Management Inc.’s holdings in Floor & Decor were worth $140,088,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC acquired a new stake in Floor & Decor during the third quarter worth about $26,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Floor & Decor by 207.6% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 366 shares of the company’s stock worth $27,000 after purchasing an additional 247 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Floor & Decor during the 4th quarter worth approximately $34,000. Clearstead Advisors LLC increased its holdings in shares of Floor & Decor by 215.7% during the 4th quarter. Clearstead Advisors LLC now owns 562 shares of the company’s stock valued at $34,000 after purchasing an additional 384 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Floor & Decor in the 2nd quarter valued at $46,000.

Floor & Decor Stock Performance

Shares of FND stock opened at $55.76 on Thursday. Floor & Decor Holdings, Inc. has a fifty-two week low of $42.64 and a fifty-two week high of $92.40. The stock’s fifty day moving average is $53.55 and its two-hundred day moving average is $57.42. The firm has a market capitalization of $6.02 billion, a P/E ratio of 30.31, a PEG ratio of 4.73 and a beta of 1.58.

Floor & Decor (NYSE:FND) last released its earnings results on Thursday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.05). The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Floor & Decor had a return on equity of 8.38% and a net margin of 4.27%.Floor & Decor’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 EPS. On average, equities analysts forecast that Floor & Decor Holdings, Inc. will post 1.94 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on FND shares. Weiss Ratings downgraded shares of Floor & Decor from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. UBS Group lowered their target price on shares of Floor & Decor from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Bank of America cut Floor & Decor from a “buy” rating to an “underperform” rating and set a $45.00 target price on the stock. in a research report on Friday, April 17th. Telsey Advisory Group cut their price target on Floor & Decor from $80.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Zacks Research raised Floor & Decor from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Floor & Decor has an average rating of “Hold” and an average target price of $57.72.

Insider Transactions at Floor & Decor

In other Floor & Decor news, CFO Bryan Langley purchased 2,500 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were purchased at an average cost of $48.69 per share, for a total transaction of $121,725.00. Following the completion of the transaction, the chief financial officer owned 42,016 shares of the company’s stock, valued at $2,045,759.04. The trade was a 6.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Bradley Paulsen acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were acquired at an average cost of $50.25 per share, with a total value of $251,250.00. Following the purchase, the chief executive officer owned 85,010 shares in the company, valued at $4,271,752.50. This represents a 6.25% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.80% of the company’s stock.

About Floor & Decor

Founded in 2000 and headquartered in Atlanta, Floor & Decor Holdings Inc is a specialty retailer focused on hard surface flooring and related accessories in the United States. The company serves both professional installers and do-it-yourself customers through a growing network of warehouse-format stores and a comprehensive e-commerce platform.

Floor & Decor’s product offering spans ceramic and porcelain tile, engineered and solid hardwood, laminate, luxury vinyl plank and tile, natural stone and a full suite of installation materials such as grout, mortars and underlayment.