Key Points
- CEO Jeffrey Lorberbaum sold 11,400 Mohawk Industries shares at an average price of $128.21, generating $1.46 million and reducing his direct holdings by 16.12% to 59,299 shares.
- Mohawk reported stronger-than-expected quarterly results, with EPS of $3.67 versus the $2.58 consensus and revenue of $2.99 billion, up 6.8% year over year.
- Analyst sentiment remains cautious, with the stock carrying an average “Hold” rating and a $130.50 average price target; institutional investors own nearly 79% of shares.
Mohawk Industries, Inc. (NYSE:MHK - Get Free Report) CEO Jeffrey Lorberbaum sold 11,400 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 59,299 shares in the company, valued at approximately $7,602,724.79. This represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Mohawk Industries Price Performance
Shares of MHK opened at $128.56 on Friday. 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 stock has a 50 day simple moving average of $126.07 and a 200 day simple moving average of $112.94. Mohawk Industries, Inc. has a 52-week low of $92.99 and a 52-week high of $140.30. The firm has a market capitalization of $8.71 billion, a PE ratio of 17.03, a P/E/G ratio of 1.84 and a beta of 1.18.
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, topping analysts' consensus estimates of $2.58 by $1.09. The business had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.79 billion. Mohawk Industries had a return on equity of 7.50% and a net margin of 4.15%.Mohawk Industries's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.77 EPS. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. Sell-side analysts predict that Mohawk Industries, Inc. will post 9.9 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Mohawk Industries from $117.00 to $130.00 and gave the stock a "sector perform" rating in a research note on Monday, August 3rd. Weiss Ratings raised Mohawk Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Zacks Research upgraded Mohawk Industries from a "strong sell" rating to a "hold" rating in a report on Friday, June 19th. Barclays upped their price objective on Mohawk Industries from $109.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company increased their price objective on Mohawk Industries from $115.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. 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. Based on data from MarketBeat.com, Mohawk Industries presently has an average rating of "Hold" and an average price target of $130.50.
Get Our Latest Stock Analysis on Mohawk Industries
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in shares of Mohawk Industries by 11.5% during the 4th quarter. BNP Paribas Financial Markets now owns 132,723 shares of the company's stock worth $14,507,000 after purchasing an additional 13,663 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Mohawk Industries by 275.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 61,477 shares of the company's stock valued at $6,719,000 after purchasing an additional 45,109 shares during the last quarter. Wilsey Asset Management Inc. lifted its stake in Mohawk Industries by 27.4% in the 1st quarter. Wilsey Asset Management Inc. now owns 303,104 shares of the company's stock valued at $29,844,000 after purchasing an additional 65,235 shares during the last quarter. Tidal Investments LLC grew its holdings in Mohawk Industries by 18.3% during the second quarter. Tidal Investments LLC now owns 61,723 shares of the company's stock worth $7,489,000 after purchasing an additional 9,558 shares during the period. Finally, III Capital Management grew its holdings in Mohawk Industries by 40.2% during the fourth quarter. III Capital Management now owns 41,850 shares of the company's stock worth $4,574,000 after purchasing an additional 12,000 shares during the period. Institutional investors own 78.98% of the company's stock.
About Mohawk Industries
(
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.
Further Reading
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