Interface (NASDAQ:TILE) CEO Sells $244,930.00 in Stock

Interface, Inc. (NASDAQ:TILE) CEO Laurel Hurd sold 7,000 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $34.99, for a total transaction of $244,930.00. Following the sale, the chief executive officer owned 499,978 shares in the company, valued at approximately $17,494,230.22. This trade represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Laurel Hurd also recently made the following trade(s):

• On Monday, August 24th, Laurel Hurd sold 7,000 shares of Interface stock. The stock was sold at an average price of $39.09, for a total transaction of $273,630.00.

Interface Stock Performance

NASDAQ:TILE opened at $35.20 on Monday. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. The company has a fifty day simple moving average of $35.92 and a two-hundred day simple moving average of $31.66. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 0.99 and a beta of 1.92.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The business had revenue of $395.70 million for the quarter, compared to analysts’ expectations of $391.22 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, September 4th. Interface’s dividend payout ratio (DPR) is presently 4.86%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TILE. BlackRock Inc. purchased a new stake in Interface during the second quarter worth approximately $338,055,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Interface in the second quarter valued at approximately $66,077,000. GW&K Investment Management LLC raised its holdings in Interface by 12.7% during the fourth quarter. GW&K Investment Management LLC now owns 993,413 shares of the textile maker’s stock worth $27,736,000 after purchasing an additional 111,564 shares in the last quarter. Reynders McVeigh Capital Management LLC raised its holdings in Interface by 11.4% during the second quarter. Reynders McVeigh Capital Management LLC now owns 489,736 shares of the textile maker’s stock worth $17,552,000 after purchasing an additional 50,054 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Interface during the 2nd quarter worth approximately $16,508,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. Weiss Ratings upgraded shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Barrington Research boosted their price target on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $40.50.

Interface Company Profile

Interface, Inc designs and manufactures modular flooring and interior solutions for commercial and residential spaces. Its product portfolio includes modular carpet tile, broadloom carpet, luxury vinyl tile, resilient flooring and rubber flooring, as well as acoustic products and related accessories. The company markets its offerings under brands that include Interface, FLOR and nora.

Interface serves customers in a range of industries, including corporate offices, hospitality, education, healthcare, retail and government.