Interface Inc. (TILE) Trading 3% Higher
Shares of Interface Inc. (NASDAQ:TILE) traded up 3% during mid-day trading on Thursday . The company traded as high as $17.21 and last traded at $17.13, with a volume of 1,078,157 shares. The stock had previously closed at $16.63.
A number of research firms recently commented on TILE. Zacks Investment Research raised shares of Interface from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Stifel Nicolaus lowered shares of Interface from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. TheStreet raised shares of Interface from a “hold” rating to a “buy” rating in a research report on Tuesday, April 26th. Longbow Research lowered shares of Interface from a “buy” rating to a “neutral” rating in a research report on Thursday, May 5th. Finally, Raymond James Financial Inc. lowered shares of Interface from a “market perform” rating to an “underperform” rating in a research report on Friday, June 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $20.25.
The company’s 50-day moving average is $16.40 and its 200-day moving average is $16.82. The stock has a market cap of $1.11 billion and a PE ratio of 15.61.
Interface (NASDAQ:TILE) last posted its earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. During the same quarter in the previous year, the company earned $0.33 EPS. The firm earned $248.20 million during the quarter, compared to the consensus estimate of $256.99 million. The business’s revenue was down 5.8% compared to the same quarter last year. On average, equities research analysts predict that Interface Inc. will post $1.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be paid a $0.06 dividend. This is a boost from Interface’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, August 10th. This represents a $0.24 annualized dividend and a dividend yield of 1.40%.
In other news, CEO Daniel T. Hendrix sold 3,000 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $17.10, for a total value of $51,300.00. Following the completion of the sale, the chief executive officer now owns 262,882 shares in the company, valued at approximately $4,495,282.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Raymond S. Willoch sold 23,007 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $17.08, for a total transaction of $392,959.56. The disclosure for this sale can be found here.
Other institutional investors recently modified their holdings of the company. New York State Common Retirement Fund increased its position in shares of Interface by 4.0% in the fourth quarter. New York State Common Retirement Fund now owns 65,000 shares of the company’s stock worth $1,244,000 after buying an additional 2,500 shares during the period. Principal Financial Group Inc. increased its position in shares of Interface by 25.6% in the fourth quarter. Principal Financial Group Inc. now owns 1,207,295 shares of the company’s stock worth $23,107,000 after buying an additional 245,698 shares during the period. RS Investment Management Co. LLC bought a new position in shares of Interface during the fourth quarter worth $29,186,000. Finally, Schroder Investment Management Group increased its position in shares of Interface by 79.4% in the fourth quarter. Schroder Investment Management Group now owns 1,948,300 shares of the company’s stock worth $37,290,000 after buying an additional 862,400 shares during the period.
Interface Inc is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors.