Insider Selling: Interface, Inc. (NASDAQ:TILE) Director Sells $31,584.51 in Stock

Interface, Inc. (NASDAQ:TILE) Director Daniel T. Hendrix sold 2,153 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $14.67, for a total value of $31,584.51. Following the completion of the sale, the director now directly owns 246,147 shares of the company’s stock, valued at approximately $3,610,976.49. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Interface Trading Up 2.0 %

Shares of Interface stock opened at $14.45 on Thursday. The business has a fifty day simple moving average of $15.29 and a two-hundred day simple moving average of $14.61. Interface, Inc. has a 1 year low of $8.26 and a 1 year high of $18.47. The company has a market capitalization of $841.57 million, a price-to-earnings ratio of 14.31, a P/E/G ratio of 0.83 and a beta of 2.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.72 and a quick ratio of 1.30.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, May 3rd. The textile maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.12. Interface had a return on equity of 16.94% and a net margin of 4.73%. The business had revenue of $289.70 million during the quarter, compared to the consensus estimate of $284.76 million. During the same quarter last year, the firm posted $0.07 EPS. The company’s quarterly revenue was down 2.1% on a year-over-year basis. Research analysts forecast that Interface, Inc. will post 1.18 EPS for the current year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Friday, May 31st. Interface’s dividend payout ratio is currently 3.96%.

Institutional Investors Weigh In On Interface

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Interface during the first quarter worth $57,000. GAMMA Investing LLC lifted its holdings in shares of Interface by 131.1% during the first quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock worth $66,000 after buying an additional 2,237 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Interface during the first quarter worth $110,000. ProShare Advisors LLC increased its position in shares of Interface by 7.4% in the first quarter. ProShare Advisors LLC now owns 11,576 shares of the textile maker’s stock worth $195,000 after purchasing an additional 794 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Interface by 21.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,465 shares of the textile maker’s stock worth $233,000 after purchasing an additional 3,230 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and issued a $22.00 price objective on shares of Interface in a report on Monday, June 17th.

Interface Company Profile

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.