Interface (NASDAQ:TILE) CEO Sells $273,630.00 in Stock

Interface, Inc. (NASDAQ:TILE) CEO Laurel Hurd sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.09, for a total transaction of $273,630.00. Following the transaction, the chief executive officer directly owned 506,978 shares in the company, valued at approximately $19,817,770.02. The trade was a 1.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Interface Stock Performance

TILE stock opened at $38.70 on Thursday. 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 capitalization of $2.25 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.10 and a beta of 1.90. Interface, Inc. has a 12 month low of $24.40 and a 12 month high of $40.50. The firm has a 50 day moving average of $35.18 and a two-hundred day moving average of $31.07.

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

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Interface’s dividend payout ratio (DPR) is 4.86%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barrington Research upped their price target on Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Benchmark started coverage on Interface in a research note on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price objective on the stock. Weiss Ratings upgraded Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Zacks Research cut Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen downgraded Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Interface presently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Institutional Trading of Interface

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TILE. BlackRock Inc. bought a new position in Interface during the second quarter worth $338,055,000. California State Teachers Retirement System boosted its holdings in Interface by 4,232.4% in the 2nd quarter. California State Teachers Retirement System now owns 2,313,042 shares of the textile maker’s stock valued at $82,899,000 after purchasing an additional 2,259,653 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Interface in the 2nd quarter worth $66,077,000. Fuller & Thaler Asset Management Inc. grew its position in Interface by 133.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock worth $56,071,000 after purchasing an additional 1,149,733 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Interface during the 2nd quarter worth about $16,508,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Company Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.