Insider Selling: Interface (NASDAQ:TILE) Director Sells $141,560.00 in Stock

Interface, Inc. (NASDAQ:TILE) Director Daniel Hendrix sold 4,000 shares of Interface stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $35.39, for a total transaction of $141,560.00. Following the transaction, the director directly owned 80,147 shares in the company, valued at approximately $2,836,402.33. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Interface Stock Performance

NASDAQ:TILE opened at $36.42 on Friday. The firm’s fifty day simple moving average is $35.98 and its 200 day simple moving average is $32.92. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. Interface, Inc. has a twelve month low of $24.40 and a twelve month high of $40.50. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.03 and a beta of 1.99.

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

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a dividend of $0.03 per share. 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%.

Hedge Funds Weigh In On Interface

A number of institutional investors have recently made changes to their positions in the business. Allworth Financial LP acquired a new stake in shares of Interface during the second quarter worth approximately $36,000. Public Employees Retirement System of Ohio acquired a new stake in Interface in the second quarter valued at $39,000. Farther Finance Advisors LLC raised its holdings in Interface by 39.1% in the third quarter. Farther Finance Advisors LLC now owns 1,271 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 357 shares in the last quarter. Nykredit A S bought a new position in Interface during the 2nd quarter valued at $47,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Interface by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the textile maker’s stock valued at $62,000 after acquiring an additional 934 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TILE has been the subject of a number of analyst reports. Weiss Ratings upgraded Interface from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, October 12th. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Barrington Research upped their price objective on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Finally, Wall Street Zen downgraded Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

About Interface

Interface, Inc designs and manufactures modular flooring products for commercial, institutional and residential interiors. Its portfolio includes carpet tile, broadloom carpet and resilient flooring, including luxury vinyl tile. The company serves markets such as corporate offices, hospitality, education, healthcare and retail.

Founded in 1973 by Ray Anderson, Interface is headquartered in Atlanta, Georgia, and sells its products through a global network serving customers in North America, Europe and the Asia-Pacific region.