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

Mohawk Industries, Inc. (NYSE:MHK) CEO Jeffrey Lorberbaum sold 11,400 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was 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 trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mohawk Industries Stock Performance

Shares of MHK traded up $0.86 during trading hours on Thursday, hitting $128.56. The stock had a trading volume of 913,828 shares, compared to its average volume of 908,656. The firm has a market capitalization of $8.71 billion, a PE ratio of 17.03, a PEG ratio of 1.86 and a beta of 1.18. 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, Inc. has a 12 month low of $92.99 and a 12 month high of $140.30. The stock has a fifty day moving average price of $125.70 and a 200 day moving average price of $112.91.

Mohawk Industries (NYSE:MHK) last posted its 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 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 the consensus estimate of $2.79 billion. During the same quarter in the prior year, the company earned $2.77 earnings per share. Mohawk Industries’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. Analysts anticipate that Mohawk Industries, Inc. will post 9.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MHK shares. Barclays upped their target price on shares of Mohawk Industries from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Royal Bank Of Canada boosted their price objective on shares of Mohawk Industries from $117.00 to $130.00 and gave the company a “sector perform” rating in a research report on Monday, August 3rd. Wells Fargo & Company upped their price objective on Mohawk Industries from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $121.00 target price on shares of Mohawk Industries in a report on Tuesday, August 4th. Finally, Zacks Research upgraded Mohawk Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, June 19th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $130.50.

Hedge Funds Weigh In On Mohawk Industries

A number of hedge funds have recently modified their holdings of MHK. BlackRock Inc. purchased a new stake in shares of Mohawk Industries in the second quarter worth $777,293,000. Dimensional Fund Advisors LP lifted its stake in shares of Mohawk Industries by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company’s stock valued at $316,962,000 after buying an additional 80,761 shares in the last quarter. Pzena Investment Management LLC bought a new position in Mohawk Industries in the 2nd quarter worth $138,661,000. Brandes Investment Partners LP increased its stake in Mohawk Industries by 20.4% in 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 in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Mohawk Industries in the 2nd quarter worth $80,880,000. 78.98% of the stock is currently owned by 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.