Mohawk Industries (NYSE:MHK) CEO Jeffrey Lorberbaum Sells 22,875 Shares of Stock

Mohawk Industries, Inc. (NYSE:MHK) CEO Jeffrey Lorberbaum sold 22,875 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $126.84, for a total transaction of $2,901,465.00. Following the completion of the sale, the chief executive officer directly owned 116,675 shares in the company, valued at approximately $14,799,057. This represents a 16.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mohawk Industries Price Performance

Mohawk Industries stock opened at $129.11 on Wednesday. Mohawk Industries, Inc. has a 12-month low of $92.99 and a 12-month high of $140.30. The company has a current ratio of 1.92, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $125.29 and a 200-day moving average price of $112.90. The firm has a market capitalization of $8.75 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 30th. The company reported $3.67 EPS for the quarter, beating the consensus estimate of $2.58 by $1.09. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the firm posted $2.77 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. As a group, equities research analysts forecast that Mohawk Industries, Inc. will post 9.9 EPS for the current year.

Hedge Funds Weigh In On Mohawk Industries

A number of institutional investors have recently modified their holdings of MHK. BlackRock Inc. purchased a new stake in Mohawk Industries in the second quarter worth about $777,293,000. Pzena Investment Management LLC purchased a new position in Mohawk Industries during the 2nd quarter valued at about $138,661,000. Norges Bank bought a new stake in shares of Mohawk Industries in the 4th quarter valued at about $77,528,000. Canada Pension Plan Investment Board bought a new stake in shares of Mohawk Industries in the 2nd quarter valued at about $80,880,000. Finally, Donald Smith & CO. Inc. purchased a new stake in shares of Mohawk Industries in the 2nd quarter worth approximately $42,157,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MHK. Barclays increased their price target on Mohawk Industries from $109.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings upgraded Mohawk Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Zacks Research raised Mohawk Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, June 19th. Robert W. Baird increased their target price on Mohawk Industries from $112.00 to $132.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada lifted their target price on Mohawk Industries from $117.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $130.50.

About Mohawk Industries

Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through a broad portfolio that includes carpet, rugs, ceramic and porcelain tile, laminate, hardwood, luxury vinyl tile and other resilient flooring products.

Mohawk markets its products under brands that include Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean, IVC and Durkan. Its products are sold through home improvement retailers, independent flooring dealers, distributors, builders, commercial contractors and other channels.

The company was formed in 1988 through the merger of Mohasco Corporation and Aladdin Mills and is headquartered in Calhoun, Georgia.