Interface Inc. (TILE) Insider Patrick C. Lynch Sells 6,000 Shares
Interface Inc. (NASDAQ:TILE) insider Patrick C. Lynch sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $18.00, for a total value of $108,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link.
Interface Inc. (NASDAQ:TILE) remained flat at $18.30 during trading on Tuesday. The company’s stock had a trading volume of 110,041 shares. The company’s 50 day moving average is $16.57 and its 200 day moving average is $16.64. The company has a market capitalization of $1.19 billion, a P/E ratio of 17.68 and a beta of 1.28. Interface Inc. has a 52-week low of $13.70 and a 52-week high of $20.67.
Interface (NASDAQ:TILE) last released its earnings results on Wednesday, October 26th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.07. The business earned $248.30 million during the quarter, compared to the consensus estimate of $251.55 million. Interface had a net margin of 7.01% and a return on equity of 18.80%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. Analysts predict that Interface Inc. will post $1.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Tuesday, November 8th. Interface’s dividend payout ratio is currently 22.86%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research raised Interface from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday, August 3rd. Seaport Global Securities began coverage on Interface in a research report on Friday, November 4th. They issued a “buy” rating and a $18.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $18.50.
Hedge funds have recently made changes to their positions in the stock. PineBridge Investments L.P. boosted its stake in shares of Interface by 3.2% in the second quarter. PineBridge Investments L.P. now owns 8,303 shares of the company’s stock valued at $127,000 after buying an additional 254 shares during the period. First Mercantile Trust Co. raised its position in Interface by 69.5% in the third quarter. First Mercantile Trust Co. now owns 7,886 shares of the company’s stock valued at $132,000 after buying an additional 3,234 shares in the last quarter. Teacher Retirement System of Texas raised its position in Interface by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,239 shares of the company’s stock valued at $141,000 after buying an additional 1,118 shares in the last quarter. BlackRock Inc. raised its stake in shares of Interface by 116.0% in the third quarter. BlackRock Inc. now owns 9,761 shares of the company’s stock valued at $163,000 after buying an additional 5,243 shares during the period. Finally, Profund Advisors LLC bought a new stake in shares of Interface during the third quarter valued at about $168,000. Hedge funds and other institutional investors own 90.72% of the company’s stock.
Interface Company Profile
Interface Inc is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors.
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