Key Points
- CEO Jeffrey Lorberbaum sold 22,875 Mohawk Industries shares at an average price of $126.84, for total proceeds of approximately $2.90 million. He retains 116,675 shares, a 16.39% reduction in ownership.
- Mohawk reported quarterly EPS of $3.67, beating estimates by $1.09, while revenue reached $2.99 billion and increased 6.8% year over year.
- Analysts maintain a consensus “Hold” rating with an average price target of $130.50; institutional investors own nearly 79% of the company’s stock.
Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) CEO Jeffrey Lorberbaum sold 22,875 shares of Mohawk Industries stock in a transaction on Friday, September 11th. The shares were sold at an average price of $126.84, for a total value of $2,901,465.00. Following the completion of the transaction, the chief executive officer owned 116,675 shares in the company, valued at $14,799,057. This represents a 16.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Mohawk Industries Trading Down 0.2%
Shares of NYSE MHK opened at $129.11 on Wednesday. Mohawk Industries, Inc. has a 1-year low of $92.99 and a 1-year high of $140.30. The business has a fifty day moving average price of $125.29 and a 200 day moving average price of $112.90. The stock has a market capitalization of $8.75 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.87 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 (NYSE:MHK - Get Free Report) last posted its 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. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.79 billion. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%.The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.77 earnings per share. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. Equities research analysts expect that Mohawk Industries, Inc. will post 9.9 EPS for the current fiscal year.
Institutional Trading of Mohawk Industries
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Mohawk Industries in the second quarter worth about $777,293,000. Dimensional Fund Advisors LP lifted its holdings in shares of Mohawk Industries by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,219,318 shares of the company's stock worth $316,962,000 after purchasing an additional 80,761 shares during the period. Pzena Investment Management LLC boosted its position in Mohawk Industries by 0.6% in the fourth quarter. Pzena Investment Management LLC now owns 1,186,400 shares of the company's stock valued at $129,674,000 after buying an additional 7,332 shares during the last quarter. Brandes Investment Partners LP increased its holdings 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 during the period. Finally, Norges Bank acquired a new position in Mohawk Industries in the 4th quarter worth approximately $77,528,000. Hedge funds and other institutional investors own 78.98% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on the stock. Barclays boosted their price objective on shares of Mohawk Industries from $109.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Royal Bank Of Canada lifted their price target on shares of Mohawk Industries from $117.00 to $130.00 and gave the stock a "sector perform" rating in a report on Monday, August 3rd. Wells Fargo & Company upped their price target on Mohawk Industries from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research 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 report on Tuesday, August 4th. Finally, Robert W. Baird raised their price objective on Mohawk Industries from $112.00 to $132.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $130.50.
Read Our Latest Analysis on Mohawk Industries
Mohawk Industries Company Profile
(
Get Free Report)
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.
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