Insider Selling: Interface, Inc. (NASDAQ:TILE) Director Sells 18,000 Shares of Stock

Interface, Inc. (NASDAQ:TILE - Get Free Report) Director Daniel T. Hendrix sold 18,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total value of $473,940.00. Following the sale, the director now directly owns 153,147 shares in the company, valued at approximately $4,032,360.51. This represents a 10.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Interface Stock Up 1.8 %

NASDAQ:TILE traded up $0.48 on Friday, hitting $26.52. 222,810 shares of the company's stock were exchanged, compared to its average volume of 451,522. The firm has a 50-day moving average price of $22.05 and a 200-day moving average price of $18.44. Interface, Inc. has a 52 week low of $10.75 and a 52 week high of $27.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The company has a market cap of $1.55 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.28 and a beta of 2.09.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.34 by $0.14. The firm had revenue of $344.30 million during the quarter, compared to analysts' expectations of $336.39 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. As a group, analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, November 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. Interface's dividend payout ratio is presently 2.80%.

Hedge Funds Weigh In On Interface

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of Interface by 1,195.5% during the 2nd quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker's stock worth $1,243,000 after acquiring an additional 78,113 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Interface during the 3rd quarter worth about $790,000. Renaissance Technologies LLC grew its stake in Interface by 11.0% in the 2nd quarter. Renaissance Technologies LLC now owns 345,400 shares of the textile maker's stock valued at $5,070,000 after buying an additional 34,200 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Interface by 46.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 176,617 shares of the textile maker's stock valued at $2,593,000 after acquiring an additional 56,093 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Interface by 107.2% during the second quarter. Victory Capital Management Inc. now owns 182,620 shares of the textile maker's stock worth $2,681,000 after acquiring an additional 94,499 shares during the last quarter. Institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TILE. Barrington Research upped their price target on shares of Interface from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, November 1st. StockNews.com lowered Interface from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 4th.

Interface Company Profile

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.

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