Interface (NASDAQ:TILE) Hits New 52-Week High - Here's What Happened

Interface, Inc. (NASDAQ:TILE - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $24.97 and last traded at $24.88, with a volume of 144535 shares trading hands. The stock had previously closed at $24.50.

Analyst Ratings Changes

TILE has been the topic of several research analyst reports. StockNews.com cut shares of Interface from a "strong-buy" rating to a "buy" rating in a research report on Monday. Barrington Research lifted their price objective on shares of Interface from $22.00 to $26.00 and gave the company an "outperform" rating in a research report on Friday, November 1st.

Interface Stock Performance

The stock has a market cap of $1.46 billion, a P/E ratio of 17.48, a PEG ratio of 1.14 and a beta of 1.97. 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 fifty day moving average of $19.09 and a 200 day moving average of $17.06.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company had revenue of $344.30 million for the quarter, compared to the consensus estimate of $336.39 million. During the same quarter in the previous year, the business earned $0.28 EPS. The company's quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.01 per share. The ex-dividend date was Friday, August 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.16%. Interface's dividend payout ratio (DPR) is presently 2.80%.

Insider Transactions at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 55,000 shares of the company's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total transaction of $935,000.00. Following the completion of the sale, the chief financial officer now directly owns 198,475 shares of the company's stock, valued at approximately $3,374,075. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Bruce Andrew Hausmann sold 55,000 shares of Interface stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total transaction of $935,000.00. Following the transaction, the chief financial officer now owns 198,475 shares in the company, valued at approximately $3,374,075. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel T. Hendrix sold 3,555 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total value of $62,319.15. Following the transaction, the director now directly owns 191,147 shares in the company, valued at $3,350,806.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,555 shares of company stock valued at $1,479,719 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Interface

A number of hedge funds have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in Interface in the second quarter valued at about $32,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Interface in the 1st quarter valued at approximately $57,000. KBC Group NV lifted its stake in Interface by 70.7% in the third quarter. KBC Group NV now owns 3,472 shares of the textile maker's stock valued at $66,000 after acquiring an additional 1,438 shares during the last quarter. nVerses Capital LLC bought a new stake in Interface in the third quarter worth approximately $70,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Interface during the 2nd quarter worth $91,000. 98.34% of the stock is owned by institutional investors and hedge funds.

About Interface

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.