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

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Wednesday, March 12th, Wall Street Journal reports. Shareholders of record on Friday, March 28th will be paid a dividend of 0.01 per share by the textile maker on Friday, April 11th. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date is Friday, March 28th.

Interface has a payout ratio of 2.2% meaning 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 down $0.06 on Wednesday, reaching $18.82. 614,622 shares of the company traded hands, compared to its average volume of 511,751. The company has a 50 day moving average of $22.55 and a 200 day moving average of $22.05. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface has a 52 week low of $14.13 and a 52 week high of $27.34. The firm has a market capitalization of $1.10 billion, a PE ratio of 13.16, a PEG ratio of 0.96 and a beta of 2.18.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $335.00 million during the quarter, compared to analyst estimates of $340.51 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. Interface’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. Equities analysts forecast that Interface will post 1.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TILE. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and issued a $30.00 price target on shares of Interface in a research report on Tuesday, February 25th.

Insiders Place Their Bets

In other news, Director Daniel T. Hendrix sold 7,500 shares of Interface stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total value of $149,625.00. Following the completion of the transaction, the director now directly owns 96,147 shares in the company, valued at approximately $1,918,132.65. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 32,500 shares of company stock worth $748,125 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

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.