Mohawk Industries (NYSE:MHK) Trading Down 3.8% on Insider Selling

Key Points

• Mohawk Industries shares fell 3.8% to about $121.30 after insider selling, including CEO Jeffrey Lorberbaum’s sales totaling more than $2.9 million and Suzanne Helen’s $100,496 sale.
• Analysts maintain a consensus “Hold” rating with a $130.50 price target, although Truist raised its target to $155 and retained a “Buy” rating.
• The company beat quarterly expectations, reporting $3.67 in EPS versus a $2.58 estimate and $2.99 billion in revenue, up 6.8% year over year; institutional investors own nearly 79% of outstanding shares.

Mohawk Industries, Inc. (NYSE:MHK - Get Free Report)'s stock price traded down 3.8% during trading on Monday after an insider sold shares in the company. The company traded as low as $119.35 and last traded at $121.3030. Approximately 212,463 shares changed hands during trading, a decline of 77% from the average session volume of 909,058 shares. The stock had previously closed at $126.09.

Specifically, insider Suzanne L. Helen sold 800 shares of the firm's stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $125.62, for a total value of $100,496.00. Following the sale, the insider directly owned 5,332 shares of the company's stock, valued at $669,805.84. This trade represents a 13.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey Lorberbaum sold 11,400 shares of Mohawk Industries stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $128.21, for a total value of $1,461,594.00. Following the completion of the transaction, the chief executive officer owned 59,299 shares in the company, valued at approximately $7,602,724.79. This represents a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In other news, CEO Jeffrey Lorberbaum sold 11,475 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $128.97, for a total value of $1,479,930.75. Following the completion of the transaction, the chief executive officer owned 68,825 shares of the company's stock, valued at approximately $8,876,360.25. This represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Zacks Research upgraded shares of Mohawk Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, June 19th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $121.00 target price on shares of Mohawk Industries in a research report on Tuesday, August 4th. Royal Bank Of Canada boosted their target price on shares of Mohawk Industries from $117.00 to $130.00 and gave the stock a "sector perform" rating in a research note on Monday, August 3rd. Robert W. Baird upped their price target on shares of Mohawk Industries from $112.00 to $132.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Finally, Truist Financial increased their price target on Mohawk Industries from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $130.50.

Mohawk Industries Stock Down 3.5%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.92. The stock has a market capitalization of $8.24 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 1.82 and a beta of 1.18. The stock's fifty day simple moving average is $126.39 and its two-hundred day simple moving average is $112.98.

Mohawk Industries (NYSE:MHK - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $3.67 earnings per share (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 firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the firm earned $2.77 earnings per share. The company's revenue for the quarter was up 6.8% on a year-over-year basis. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. As a group, research analysts expect that Mohawk Industries, Inc. will post 9.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Mohawk Industries

Institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC boosted its holdings in Mohawk Industries by 18.3% in the second quarter. Tidal Investments LLC now owns 61,723 shares of the company's stock worth $7,489,000 after acquiring an additional 9,558 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Mohawk Industries by 11.5% during the fourth quarter. BNP Paribas Financial Markets now owns 132,723 shares of the company's stock valued at $14,507,000 after acquiring an additional 13,663 shares in the last quarter. Wilsey Asset Management Inc. raised its position in shares of Mohawk Industries by 27.4% during 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 period. III Capital Management lifted its holdings in shares of Mohawk Industries by 40.2% in the 4th quarter. III Capital Management now owns 41,850 shares of the company's stock worth $4,574,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Mohawk Industries by 217.2% in the 1st quarter. Hsbc Holdings PLC now owns 88,062 shares of the company's stock worth $8,627,000 after purchasing an additional 60,296 shares in the last quarter. Institutional investors own 78.98% of the company's stock.

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.

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.