Interface, Inc. (NASDAQ:TILE) Increases Dividend to $0.03 Per Share

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Tuesday, February 24th. Shareholders of record on Friday, March 27th will be paid a dividend of 0.03 per share by the textile maker on Friday, April 10th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, March 27th. This is a 50.0% increase from Interface’s previous quarterly dividend of $0.02.

Interface has decreased its dividend by an average of 0.3%annually over the last three years. Interface has a dividend payout ratio of 4.5% 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 $0.08 annual dividend with an expected future payout ratio of 5.2%.

Interface Stock Up 1.2%

Interface stock traded up $0.38 during midday trading on Tuesday, hitting $31.88. 746,554 shares of the stock were exchanged, compared to its average volume of 385,829. Interface has a 1 year low of $17.24 and a 1 year high of $35.11. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.89 and a quick ratio of 1.70. The firm has a market cap of $1.86 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.09 and a beta of 1.90. The company has a 50 day moving average price of $30.89 and a two-hundred day moving average price of $28.58.

Interface (NASDAQ:TILE) last announced its earnings results on Tuesday, February 24th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. Interface had a return on equity of 19.30% and a net margin of 8.27%.The business had revenue of $349.39 million for the quarter, compared to analyst estimates of $350.54 million. During the same period in the previous year, the company earned $0.34 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Interface will post 1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Interface

Hedge funds have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC raised its stake in shares of Interface by 180.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after buying an additional 631 shares in the last quarter. TD Private Client Wealth LLC acquired a new position in Interface during the third quarter worth about $32,000. Blue Trust Inc. bought a new stake in Interface in the third quarter worth about $34,000. Larson Financial Group LLC lifted its holdings in Interface by 114.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 628 shares during the last quarter. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Interface during the 2nd quarter valued at about $35,000. 98.34% of the stock is currently owned by institutional investors.

About Interface

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.