Jeffrey Lorberbaum Sells 11,400 Shares of Mohawk Industries (NYSE:MHK) Stock

Key Points

• CEO Jeffrey Lorberbaum sold 11,400 Mohawk Industries shares at an average price of $128.21, generating $1.46 million and reducing his position by 16.12% to 59,299 shares.
• Mohawk shares rose 0.7% to $128.56, while the company reported quarterly EPS of $3.67 and revenue of $2.99 billion, exceeding analyst estimates.
• Analysts maintain a consensus “Hold” rating, with an average price target of $130.50; institutional investors own approximately 78.98% of the stock.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) CEO Jeffrey Lorberbaum sold 11,400 shares of the company's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $128.21, for a total transaction of $1,461,594.00. Following the completion of the sale, the chief executive officer owned 59,299 shares in the company, valued at approximately $7,602,724.79. This trade represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mohawk Industries Stock Up 0.7%

Shares of MHK stock traded up $0.86 during trading hours on Thursday, hitting $128.56. 913,828 shares of the company's stock traded hands, compared to its average volume of 908,656. The stock's fifty day simple moving average is $125.70 and its two-hundred day simple moving average is $112.91. Mohawk Industries, Inc. has a 12-month low of $92.99 and a 12-month high of $140.30. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.86 and a beta of 1.18. The company has a quick ratio of 1.13, a current ratio of 1.92 and a debt-to-equity ratio of 0.14.

Mohawk Industries (NYSE:MHK - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $2.58 by $1.09. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%.The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the prior year, the business posted $2.77 EPS. The firm's quarterly 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. On average, analysts expect that Mohawk Industries, Inc. will post 9.9 EPS for the current year.

Institutional Investors Weigh In On Mohawk Industries

Several institutional investors have recently modified their holdings of MHK. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Mohawk Industries in the 2nd quarter worth about $25,000. Elevation Wealth Partners LLC lifted its stake in Mohawk Industries by 122.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 220 shares of the company's stock valued at $27,000 after acquiring an additional 121 shares during the period. Basecamp Wealth Advisors LLC boosted its holdings in shares of Mohawk Industries by 2,281.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company's stock valued at $26,000 after acquiring an additional 251 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in shares of Mohawk Industries by 105.7% during the 1st quarter. SJS Investment Consulting Inc. now owns 323 shares of the company's stock valued at $32,000 after acquiring an additional 166 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in Mohawk Industries in the second quarter worth approximately $43,000. 78.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MHK shares. Barclays lifted their price target on Mohawk Industries from $109.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Mohawk Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Truist Financial lifted their target price on shares of Mohawk Industries from $135.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Zacks Research upgraded shares of Mohawk Industries from a "strong sell" rating to a "hold" rating in a research note on Friday, June 19th. Finally, Wall Street Zen upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock currently 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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