Steinberg Global Asset Management Acquires Shares of 5,000 Floor & Decor Holdings Inc (FND)

Steinberg Global Asset Management acquired a new stake in Floor & Decor Holdings Inc (NYSE:FND) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the company’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FND. Rhumbline Advisers raised its stake in shares of Floor & Decor by 13.4% in the third quarter. Rhumbline Advisers now owns 47,325 shares of the company’s stock valued at $1,428,000 after acquiring an additional 5,589 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Floor & Decor by 130.0% in the third quarter. Janus Henderson Group PLC now owns 11,992 shares of the company’s stock valued at $362,000 after acquiring an additional 6,779 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Floor & Decor by 6.7% in the third quarter. Bank of New York Mellon Corp now owns 158,139 shares of the company’s stock valued at $4,770,000 after acquiring an additional 9,955 shares in the last quarter. BlackRock Inc. raised its stake in shares of Floor & Decor by 16.3% in the third quarter. BlackRock Inc. now owns 2,172,254 shares of the company’s stock valued at $65,538,000 after acquiring an additional 304,773 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Floor & Decor by 136.2% in the third quarter. Dimensional Fund Advisors LP now owns 451,662 shares of the company’s stock valued at $13,628,000 after acquiring an additional 260,434 shares in the last quarter.

Shares of FND stock opened at $46.52 on Wednesday. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 47.96, a PEG ratio of 1.76 and a beta of 1.69. Floor & Decor Holdings Inc has a 1 year low of $23.30 and a 1 year high of $57.85. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.22 and a current ratio of 1.38.

Floor & Decor (NYSE:FND) last issued its quarterly earnings data on Thursday, February 21st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The company had revenue of $436.70 million for the quarter, compared to analyst estimates of $435.66 million. Floor & Decor had a return on equity of 18.70% and a net margin of 6.80%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. Analysts predict that Floor & Decor Holdings Inc will post 1.1 earnings per share for the current year.

In related news, major shareholder Corporate Opportunities F. Ares sold 6,673,401 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $37.50, for a total transaction of $250,252,537.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Trevor Lang sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $37.50, for a total value of $562,500.00. Following the transaction, the chief financial officer now directly owns 153,669 shares in the company, valued at approximately $5,762,587.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,958,252 shares of company stock worth $261,481,778. Corporate insiders own 7.00% of the company’s stock.

Several analysts have recently issued reports on the company. Longbow Research cut Floor & Decor from a “buy” rating to a “neutral” rating and set a $46.51 price objective on the stock. in a research note on Monday. Telsey Advisory Group lowered Floor & Decor from an “outperform” rating to a “market perform” rating and set a $44.00 target price on the stock. in a report on Monday, April 8th. Loop Capital lowered Floor & Decor from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a report on Friday, April 5th. They noted that the move was a valuation call. Gordon Haskett raised Floor & Decor from a “hold” rating to an “accumulate” rating in a report on Thursday, March 21st. Finally, Evercore ISI began coverage on Floor & Decor in a report on Wednesday, March 20th. They issued an “in-line” rating and a $42.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $41.77.

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About Floor & Decor

Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.

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Institutional Ownership by Quarter for Floor & Decor (NYSE:FND)

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