Jeffrey Lorberbaum Sells 11,475 Shares of Mohawk Industries (NYSE:MHK) Stock

Mohawk Industries, Inc. (NYSE:MHK) CEO Jeffrey Lorberbaum sold 11,475 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $128.97, for a total transaction of $1,479,930.75. Following the sale, the chief executive officer directly 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 is accessible through this link.

Mohawk Industries Price Performance

NYSE:MHK traded up $0.86 during trading hours on Thursday, reaching $128.56. 913,828 shares of the company’s stock were exchanged, compared to its average volume of 908,656. The company has a quick ratio of 1.13, a current ratio of 1.92 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $8.71 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. Mohawk Industries, Inc. has a 12 month low of $92.99 and a 12 month high of $140.30. The business’s 50-day simple moving average is $125.70 and its two-hundred day simple moving average is $112.91.

Mohawk Industries (NYSE:MHK) last posted 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 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 analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the company earned $2.77 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. Sell-side analysts expect that Mohawk Industries, Inc. will post 9.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MHK. Royal Bank Of Canada upped their target price on Mohawk Industries from $117.00 to $130.00 and gave the company a “sector perform” rating in a report on Monday, August 3rd. 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 note on Monday, August 3rd. 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. Truist Financial upped their price objective on shares of Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company raised their target price on shares of Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $130.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MHK. Sequoia Financial Advisors LLC increased its position in Mohawk Industries by 1.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company’s stock worth $560,000 after buying an additional 101 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Mohawk Industries by 7.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,569 shares of the company’s stock worth $171,000 after purchasing an additional 105 shares in the last quarter. Elevation Wealth Partners LLC grew its position in Mohawk Industries by 122.2% during the second quarter. Elevation Wealth Partners LLC now owns 220 shares of the company’s stock worth $27,000 after buying an additional 121 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Mohawk Industries by 10.9% during the 4th quarter. Allworth Financial LP now owns 1,484 shares of the company’s stock worth $162,000 after purchasing 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 first quarter. SJS Investment Consulting Inc. now owns 323 shares of the company’s stock worth $32,000 after purchasing an additional 166 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

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.