Interface (NASDAQ:TILE) Director Daniel Hendrix Sells 4,000 Shares of Stock

by · The Markets Daily

Interface, Inc. (NASDAQ:TILE – Get Free Report) Director Daniel Hendrix sold 4,000 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $34.05, for a total value of $136,200.00. Following the sale, the director owned 84,147 shares of the company’s stock, valued at approximately $2,865,205.35. This trade represents a 4.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Interface Stock Performance

Shares of TILE stock traded up $0.52 during trading on Tuesday, reaching $34.76. The company had a trading volume of 29,321 shares, compared to its average volume of 527,840. The firm’s 50 day simple moving average is $35.77 and its two-hundred day simple moving average is $31.46. Interface, Inc. has a one year low of $24.40 and a one year high of $40.50. 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 has a market capitalization of $2.02 billion, a PE ratio of 14.04, a PEG ratio of 0.97 and a beta of 1.92.

Interface (NASDAQ:TILE – Get Free Report) last announced its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The firm had revenue of $395.70 million during the quarter, compared to analysts’ expectations of $391.22 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Sell-side analysts forecast that Interface, Inc. will post 2.36 earnings per share for the current year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, September 4th. Interface’s dividend payout ratio (DPR) is currently 4.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TILE. BlackRock Inc. bought a new position in Interface in the 2nd quarter valued at $338,055,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Interface in the second quarter valued at about $66,077,000. GW&K Investment Management LLC lifted its position in Interface by 12.7% during the 4th quarter. GW&K Investment Management LLC now owns 993,413 shares of the textile maker’s stock worth $27,736,000 after buying an additional 111,564 shares in the last quarter. LSV Asset Management raised its stake in shares of Interface by 2.5% in the fourth quarter. LSV Asset Management now owns 843,629 shares of the textile maker’s stock worth $23,554,000 after acquiring an additional 20,300 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC lifted its position in shares of Interface by 11.4% during the second quarter. Reynders McVeigh Capital Management LLC now owns 489,736 shares of the textile maker’s stock worth $17,552,000 after purchasing an additional 50,054 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TILE. Weiss Ratings upgraded Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Barrington Research boosted their price objective on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, Zacks Research raised shares of Interface from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, Interface presently has a consensus rating of “Buy” and an average price target of $40.50.

Get Our Latest Stock Report on TILE

Interface Company Profile

(Get Free Report)

Interface, Inc designs and manufactures modular flooring and interior solutions for commercial and residential spaces. Its product portfolio includes modular carpet tile, broadloom carpet, luxury vinyl tile, resilient flooring and rubber flooring, as well as acoustic products and related accessories. The company markets its offerings under brands that include Interface, FLOR and nora.

Interface serves customers in a range of industries, including corporate offices, hospitality, education, healthcare, retail and government.

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