Insider Selling: Interface (NASDAQ:TILE) Director Sells $297,040.00 in Stock

Interface, Inc. (NASDAQ:TILE) Director Daniel Hendrix sold 8,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.13, for a total value of $297,040.00. Following the completion of the sale, the director owned 88,147 shares in the company, valued at approximately $3,272,898.11. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Interface Price Performance

Shares of Interface stock opened at $37.24 on Monday. The business’s 50 day simple moving average is $35.71 and its 200 day simple moving average is $31.24. Interface, Inc. has a 52-week low of $24.40 and a 52-week high of $40.50. The firm has a market cap of $2.16 billion, a PE ratio of 15.08, a P/E/G ratio of 1.05 and a beta of 1.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53.

Interface (NASDAQ:TILE) last released its earnings results on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, beating the consensus estimate of $0.64 by $0.24. The firm had revenue of $395.70 million for the quarter, compared to analysts’ expectations of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%.The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. On average, analysts predict that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, September 4th. This represents a $0.12 annualized dividend and a yield of 0.3%. Interface’s dividend payout ratio is presently 4.86%.

Institutional Investors Weigh In On Interface

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Interface in the second quarter valued at $338,055,000. Dimensional Fund Advisors LP lifted its stake in shares of Interface by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker’s stock worth $75,105,000 after buying an additional 36,530 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Interface by 4,232.4% during the 2nd quarter. California State Teachers Retirement System now owns 2,313,042 shares of the textile maker’s stock worth $82,899,000 after buying an additional 2,259,653 shares during the last quarter. State Street Corp boosted its holdings in shares of Interface by 0.7% during the 4th quarter. State Street Corp now owns 2,192,472 shares of the textile maker’s stock worth $61,214,000 after buying an additional 14,764 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Interface by 133.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock worth $56,071,000 after buying an additional 1,149,733 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Zacks Research upgraded Interface from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. Barrington Research upped their target price on Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Benchmark assumed coverage on Interface in a research note on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, Interface presently has an average rating of “Buy” and a consensus target price of $40.50.

Interface Company Profile

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.