Insider Selling: Mohawk Industries (NYSE:MHK) CEO Sells $2,901,465.00 in Stock

Key Points

• CEO Jeffrey Lorberbaum sold 22,875 Mohawk Industries shares for approximately $2.90 million at an average price of $126.84, reducing his direct stake by 16.39% to 116,675 shares.
• Mohawk reported strong quarterly results, with EPS of $3.67 beating estimates by $1.09 and revenue of $2.99 billion, up 6.8% year over year. The company guided for third-quarter EPS of $2.38–$2.48.
• The stock traded near $129.11, while analysts maintained a consensus “Hold” rating with an average price target of $130.50; institutional investors own nearly 79% of shares.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) CEO Jeffrey Lorberbaum sold 22,875 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 116,675 shares of the company's stock, valued at approximately $14,799,057. This represents a 16.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Mohawk Industries Price Performance

NYSE MHK traded down $0.31 on Tuesday, hitting $129.11. The stock had a trading volume of 850,429 shares, compared to its average volume of 906,721. The firm has a 50-day moving average of $124.97 and a 200-day moving average of $112.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.92. Mohawk Industries, Inc. has a 52-week low of $92.99 and a 52-week high of $140.30. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.83 and a beta of 1.18.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $1.09. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.79 billion. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.77 EPS. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. Equities analysts expect that Mohawk Industries, Inc. will post 9.9 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in shares of Mohawk Industries by 11.5% in the 4th quarter. BNP Paribas Financial Markets now owns 132,723 shares of the company's stock valued at $14,507,000 after purchasing an additional 13,663 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Mohawk Industries by 275.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 61,477 shares of the company's stock worth $6,719,000 after purchasing an additional 45,109 shares during the period. Wilsey Asset Management Inc. lifted its stake in Mohawk Industries by 27.4% in the first quarter. Wilsey Asset Management Inc. now owns 303,104 shares of the company's stock worth $29,844,000 after purchasing an additional 65,235 shares during the last quarter. III Capital Management boosted its position in Mohawk Industries by 40.2% during the fourth quarter. III Capital Management now owns 41,850 shares of the company's stock valued at $4,574,000 after buying an additional 12,000 shares during the period. Finally, Hsbc Holdings PLC boosted its position in Mohawk Industries by 217.2% during the first quarter. Hsbc Holdings PLC now owns 88,062 shares of the company's stock valued at $8,627,000 after buying an additional 60,296 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on MHK shares. Robert W. Baird boosted their price objective on Mohawk Industries from $112.00 to $132.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Barclays lifted their target price on shares of Mohawk Industries from $109.00 to $115.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of Mohawk Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Weiss Ratings upgraded shares of Mohawk Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company upped their target price on shares of Mohawk Industries from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Mohawk Industries has a consensus rating of "Hold" and an average target price of $130.50.

Mohawk Industries Company Profile

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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