Mohawk Industries (NYSE:MHK) CEO Jeffrey Lorberbaum Sells 45,750 Shares

Key Points

• CEO Jeffrey Lorberbaum sold 45,750 Mohawk Industries shares at an average price of $127.18, generating $5.82 million and reducing his position by 36.84% to 78,425 shares.
• Mohawk reported stronger-than-expected quarterly results, with EPS of $3.67 versus the $2.58 consensus and revenue of $2.99 billion, up 6.8% year over year.
• Analysts maintain a consensus “Hold” rating with a $130.50 price target, while institutional investors own nearly 79% of the company’s stock.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) CEO Jeffrey Lorberbaum sold 45,750 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $127.18, for a total transaction of $5,818,485.00. Following the sale, the chief executive officer owned 78,425 shares in the company, valued at approximately $9,974,091.50. This trade represents a 36.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Mohawk Industries Trading Down 0.2%

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

Mohawk Industries (NYSE:MHK - Get Free Report) last released 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. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%.The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the firm posted $2.77 earnings per share. The business'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 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Mohawk Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Wells Fargo & Company lifted their price target on shares of Mohawk Industries from $115.00 to $125.00 and gave the company 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. Barclays increased their target price 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. Finally, Royal Bank Of Canada boosted their price target on Mohawk Industries from $117.00 to $130.00 and gave the company a "sector perform" rating in a research report on Monday, August 3rd. One equities 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $130.50.

Institutional Investors Weigh In On Mohawk Industries

Several large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Mohawk Industries during the second quarter valued at approximately $777,293,000. Dimensional Fund Advisors LP lifted its holdings in shares of Mohawk Industries by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company's stock worth $316,962,000 after purchasing an additional 80,761 shares during the last quarter. Pzena Investment Management LLC acquired a new position in Mohawk Industries during the 2nd quarter valued at approximately $138,661,000. Brandes Investment Partners LP grew its stake in Mohawk Industries by 20.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,102,574 shares of the company's stock worth $120,513,000 after buying an additional 186,649 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Mohawk Industries in the second quarter worth $80,880,000. Institutional investors and hedge funds own 78.98% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.