Microvast Holdings announces departure of chief financial officer
Jeffrey S. Lorberbaum, Chief Executive Officer and a director of Mohawk Industries Inc (NYSE:MHK), sold 16,000 shares of the company’s common stock on July 28, 2025, for approximately $1.93 million. The sale comes as MHK maintains strong financial health with a current ratio of 2.13 and an EBITDA of $1.36 billion over the last twelve months.
The sales were executed in two separate transactions. The first transaction involved 8,994 shares sold at a weighted average price of $120.52, for a total value of $1,083,949. Prices for these shares ranged from $119.93 to $120.92. The second transaction involved 7,006 shares sold at a weighted average price of $121.19, for a total value of $849,065 with prices ranging from $120.93 to $121.57. According to InvestingPro analysis, MHK is currently trading below its Fair Value, with analysts setting price targets ranging from $111 to $150.
Following these transactions, Lorberbaum indirectly holds 40,606 shares through MCL Family Funds Tr
In other recent news, Mohawk Industries reported impressive second-quarter 2025 earnings, surpassing expectations in both earnings per share and revenue. The company achieved an adjusted EPS of $2.77, which was higher than the anticipated $2.60. Additionally, Mohawk Industries reported revenue of $2.8 billion, slightly above the forecasted $2.76 billion. Truist Securities has reiterated its Buy rating for Mohawk Industries, maintaining a price target of $148.00. The flooring manufacturer’s results exceeded both Wall Street expectations and the company’s own guidance, with sales declines remaining modest and comparable to the first quarter of 2025. This indicates that demand for Mohawk Industries’ products did not deteriorate further during this period. Truist Securities’ continued confidence in Mohawk Industries highlights the company’s strong performance and market position. These developments suggest a positive outlook for the company in the near term.
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