Interface (NASDAQ:TILE) VP Sells 8,000 Shares of Stock

by · The Markets Daily

Interface, Inc. (NASDAQ:TILE – Get Free Report) VP James Poppens sold 8,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $28.05, for a total transaction of $224,400.00. Following the transaction, the vice president owned 103,846 shares of the company’s stock, valued at $2,912,880.30. This trade represents a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

James Poppens also recently made the following trade(s):

  • On Thursday, March 5th, James Poppens sold 5,000 shares of Interface stock. The stock was sold at an average price of $28.11, for a total transaction of $140,550.00.
  • On Wednesday, March 4th, James Poppens sold 2,650 shares of Interface stock. The shares were sold at an average price of $29.11, for a total value of $77,141.50.
  • On Tuesday, March 3rd, James Poppens sold 10,000 shares of Interface stock. The stock was sold at an average price of $29.42, for a total value of $294,200.00.

Interface Price Performance

NASDAQ TILE remained flat at $28.14 during trading on Friday. The company’s stock had a trading volume of 461,908 shares, compared to its average volume of 394,732. The stock has a 50 day moving average of $31.18 and a two-hundred day moving average of $28.74. Interface, Inc. has a fifty-two week low of $17.24 and a fifty-two week high of $35.11. The company has a market capitalization of $1.64 billion, a PE ratio of 14.36, a PEG ratio of 0.94 and a beta of 1.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.34 and a quick ratio of 1.18.

Interface (NASDAQ:TILE – Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The textile maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.40 by $0.09. The company had revenue of $349.39 million during the quarter, compared to analyst estimates of $350.54 million. Interface had a return on equity of 19.54% and a net margin of 8.37%.Interface’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Research analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Interface’s previous quarterly dividend of $0.02. Interface’s payout ratio is currently 4.08%.

Institutional Investors Weigh In On Interface

A number of hedge funds and other institutional investors have recently modified their holdings of TILE. Royal Bank of Canada grew its position in Interface by 8.4% during the 1st quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock worth $390,000 after acquiring an additional 1,522 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Interface by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after purchasing an additional 1,485 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock worth $14,854,000 after purchasing an additional 42,011 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Interface by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock worth $3,015,000 after purchasing an additional 9,580 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Interface in the second quarter worth $276,000. Institutional investors own 98.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TILE. Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Barrington Research upped their price objective on Interface from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Zacks Research lowered Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Weiss Ratings upgraded Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Get Our Latest Analysis on TILE

About Interface

(Get Free Report)

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.

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