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

Mohawk Industries, Inc. (NYSE:MHK) CEO Jeffrey Lorberbaum sold 11,400 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were 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 of the company’s stock, valued at $7,602,724.79. The trade was a 16.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Mohawk Industries Price Performance

Shares of MHK stock opened at $128.56 on Friday. Mohawk Industries, Inc. has a 1 year low of $92.99 and a 1 year high of $140.30. The firm’s 50 day moving average is $126.07 and its 200-day moving average is $112.94. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.84 and a beta of 1.18. The company has a current ratio of 1.92, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Mohawk Industries (NYSE:MHK) last issued its quarterly earnings results on Thursday, July 30th. The company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $1.09. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the business posted $2.77 earnings per share. Mohawk Industries’s revenue for the quarter 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. Sell-side analysts forecast that Mohawk Industries, Inc. will post 9.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MHK shares. Royal Bank Of Canada boosted their target price on Mohawk Industries from $117.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $121.00 price target on shares of Mohawk Industries in a report on Tuesday, August 4th. Truist Financial boosted their price objective on Mohawk Industries from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Finally, Zacks Research raised shares of Mohawk Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, June 19th. One equities 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $130.50.

Hedge Funds Weigh In On Mohawk Industries

Several institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its holdings in Mohawk Industries by 1.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company’s stock worth $560,000 after purchasing an additional 101 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Mohawk Industries by 7.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,569 shares of the company’s stock valued at $171,000 after buying an additional 105 shares during the period. Elevation Wealth Partners LLC grew its holdings in shares of Mohawk Industries by 122.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock valued at $27,000 after buying an additional 121 shares during the period. Allworth Financial LP increased its position in shares of Mohawk Industries by 10.9% in the 4th quarter. Allworth Financial LP now owns 1,484 shares of the company’s stock valued at $162,000 after buying an additional 146 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of Mohawk Industries by 105.7% in the 1st quarter. SJS Investment Consulting Inc. now owns 323 shares of the company’s stock valued at $32,000 after buying an additional 166 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.