David Foshee Sells 28,451 Shares of Interface (NASDAQ:TILE) Stock

Interface, Inc. (NASDAQ:TILE) VP David Foshee sold 28,451 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $35.99, for a total transaction of $1,023,951.49. Following the completion of the transaction, the vice president directly owned 146,563 shares in the company, valued at $5,274,802.37. This trade represents a 16.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Interface Price Performance

Shares of NASDAQ:TILE opened at $34.13 on Friday. Interface, Inc. has a 12 month low of $24.40 and a 12 month high of $40.50. The firm has a market capitalization of $1.98 billion, a P/E ratio of 13.82, a P/E/G ratio of 0.96 and a beta of 1.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. The company’s fifty day moving average price is $35.63 and its 200 day moving average price is $31.32.

Interface (NASDAQ:TILE) last released 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 net margin of 10.10% and a return on equity of 21.77%. The company had revenue of $395.70 million during the quarter, compared to the consensus estimate of $391.22 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Interface’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $0.03 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Interface’s payout ratio is currently 4.86%.

Hedge Funds Weigh In On Interface

Several institutional investors and hedge funds have recently added to or reduced their stakes in TILE. Westover Capital Advisors LLC acquired a new position in Interface during the fourth quarter worth $1,744,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Interface by 2,333.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock valued at $7,845,000 after acquiring an additional 269,439 shares during the period. Edgestream Partners L.P. acquired a new stake in Interface in the first quarter valued at $3,257,000. Virtus Advisers LLC purchased a new stake in shares of Interface during the 2nd quarter worth $1,489,000. Finally, Aurora Investment Counsel purchased a new stake in shares of Interface during the 2nd quarter worth $3,043,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on TILE shares. Barrington Research boosted their price target on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Benchmark began coverage on Interface in a research note on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target for the company. Weiss Ratings raised Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 26th. Finally, Wall Street Zen cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $40.50.

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.