Interface, Inc. (NASDAQ:TILE) Declares $0.01 Quarterly Dividend

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.01 per share by the textile maker on Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Friday, November 29th.

Interface has decreased its dividend by an average of 25.1% annually over the last three years. Interface has a dividend payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Interface to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.6%.

Interface Stock Performance

Shares of Interface stock traded up $0.11 during trading hours on Wednesday, reaching $26.93. 11,835 shares of the stock traded hands, compared to its average volume of 453,311. The company has a 50 day moving average price of $20.96 and a 200 day moving average price of $17.96. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.29 and a beta of 1.97. Interface has a one year low of $9.87 and a one year high of $27.34. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm had revenue of $344.30 million for the quarter, compared to analysts’ expectations of $336.39 million. During the same period in the previous year, the firm earned $0.28 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Interface will post 1.37 earnings per share for the current fiscal year.

Insider Transactions at Interface

In other news, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total transaction of $482,400.00. Following the transaction, the vice president now owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total value of $765,000.00. Following the transaction, the chief financial officer now directly owns 168,475 shares in the company, valued at approximately $4,296,112.50. This represents a 15.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barrington Research lifted their price objective on Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

About Interface

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.