Insider Selling: Mohawk Industries (NYSE:MHK) CEO Sells $2,901,465.00 in Stock

Mohawk Industries, Inc. (NYSE:MHK) CEO Jeffrey Lorberbaum sold 22,875 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $126.84, for a total value of $2,901,465.00. Following the sale, the chief executive officer directly owned 116,675 shares in the company, valued at approximately $14,799,057. The trade was a 16.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Mohawk Industries Stock Performance

Shares of NYSE MHK opened at $128.56 on Friday. The stock has a fifty day moving average price of $126.07 and a two-hundred day moving average price of $112.94. 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 firm has a market cap of $8.71 billion, a P/E ratio of 17.03, a PEG ratio of 1.84 and a beta of 1.18. Mohawk Industries, Inc. has a 1 year low of $92.99 and a 1 year high of $140.30.

Mohawk Industries (NYSE:MHK) last issued 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 period last year, the firm earned $2.77 EPS. The firm’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. Research analysts forecast that Mohawk Industries, Inc. will post 9.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on MHK shares. Wells Fargo & Company increased their target price on shares of Mohawk Industries from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Robert W. Baird upped their price target on Mohawk Industries from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Truist Financial increased their price objective on Mohawk Industries from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised Mohawk Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $130.50.

Hedge Funds Weigh In On Mohawk Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Mohawk Industries during the 2nd quarter valued at $25,000. Elevation Wealth Partners LLC boosted its position in shares of Mohawk Industries by 122.2% in 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 during the period. Basecamp Wealth Advisors LLC grew its holdings in shares of Mohawk Industries by 2,281.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 262 shares of the company’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. SJS Investment Consulting Inc. raised its position in Mohawk Industries by 105.7% during the first quarter. SJS Investment Consulting Inc. now owns 323 shares of the company’s stock valued at $32,000 after buying an additional 166 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in Mohawk Industries during the second quarter valued at $43,000. 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.