Insider Selling: Mohawk Industries (NYSE:MHK) CEO Sells 11,475 Shares

Key Points

• CEO Jeffrey Lorberbaum sold 11,475 Mohawk Industries shares at an average price of $128.97, generating approximately $1.48 million and reducing his direct holdings by 14.29%.
• Mohawk reported strong quarterly results, with EPS of $3.67 versus the $2.58 consensus estimate and revenue of $2.99 billion, up 6.8% year over year.
• MHK traded near $128.56, while analysts maintained a consensus “Hold” rating with an average price target of $130.50; institutional investors own 78.98% of the stock.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) CEO Jeffrey Lorberbaum sold 11,475 shares of the business's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $128.97, for a total transaction of $1,479,930.75. Following the sale, the chief executive officer directly owned 68,825 shares of the company's stock, valued at approximately $8,876,360.25. This represents a 14.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mohawk Industries Stock Performance

NYSE MHK traded up $0.86 during trading hours on Thursday, reaching $128.56. The company's stock had a trading volume of 913,828 shares, compared to its average volume of 908,656. 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 business has a 50-day simple moving average of $125.70 and a 200 day simple moving average of $112.91. Mohawk Industries, Inc. has a 52 week low of $92.99 and a 52 week high of $140.30. The stock has a market cap of $8.71 billion, a PE ratio of 17.03, a PEG ratio of 1.86 and a beta of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its 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. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.79 billion. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%.The business's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.77 earnings per share. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. Equities research analysts predict that Mohawk Industries, Inc. will post 9.9 earnings per share for the current fiscal year.

Institutional Trading of Mohawk Industries

A number of institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Mohawk Industries in the second quarter valued at $25,000. Basecamp Wealth Advisors LLC grew its holdings in Mohawk Industries by 2,281.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company's stock worth $26,000 after acquiring an additional 251 shares during the period. Elevation Wealth Partners LLC grew its holdings in Mohawk Industries by 122.2% during the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company's stock worth $27,000 after acquiring an additional 121 shares during the period. SJS Investment Consulting Inc. raised its position in Mohawk Industries by 105.7% in the first quarter. SJS Investment Consulting Inc. now owns 323 shares of the company's stock worth $32,000 after acquiring an additional 166 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new stake in Mohawk Industries in the second quarter worth about $43,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on MHK. Zacks Research upgraded shares of Mohawk Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, June 19th. Wall Street Zen upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a research report on Sunday, June 21st. Barclays raised their price target on shares of Mohawk Industries from $109.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $121.00 price objective on shares of Mohawk Industries in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada increased their price objective on Mohawk Industries from $117.00 to $130.00 and gave the stock a "sector perform" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Mohawk Industries 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.

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