Interface (NASDAQ:TILE) CEO Laurel Hurd Sells 7,000 Shares of Stock

Interface, Inc. (NASDAQ:TILE) CEO Laurel Hurd sold 7,000 shares of the stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $34.99, for a total transaction of $244,930.00. Following the completion of the sale, the chief executive officer owned 499,978 shares in the company, valued at $17,494,230.22. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Laurel Hurd also recently made the following trade(s):

• On Monday, August 24th, Laurel Hurd sold 7,000 shares of Interface stock. The stock was sold at an average price of $39.09, for a total transaction of $273,630.00.

Interface Stock Up 0.0%

Shares of TILE traded up $0.01 during mid-day trading on Friday, hitting $35.20. 329,073 shares of the company’s stock were exchanged, compared to its average volume of 526,863. The company has a 50-day simple moving average of $35.87 and a 200 day simple moving average of $31.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. The company has a market cap of $2.04 billion, a PE ratio of 14.25, a P/E/G ratio of 1.00 and a beta of 1.92. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50.

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

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a dividend of $0.03 per share. The ex-dividend date was Friday, September 4th. This represents a $0.12 annualized dividend and a yield of 0.3%. Interface’s dividend payout ratio (DPR) is presently 4.86%.

Wall Street Analyst Weigh In

TILE has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Zacks Research raised Interface from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Barrington Research boosted their target price on Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, Interface has a consensus rating of “Buy” and an average price target of $40.50.

Hedge Funds Weigh In On Interface

A number of institutional investors and hedge funds have recently modified their holdings of TILE. BlackRock Inc. acquired a new position in shares of Interface during the second quarter valued at about $338,055,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Interface during the 2nd quarter valued at $66,077,000. GW&K Investment Management LLC lifted its stake in shares of Interface by 12.7% in the fourth quarter. GW&K Investment Management LLC now owns 993,413 shares of the textile maker’s stock valued at $27,736,000 after buying an additional 111,564 shares in the last quarter. Reynders McVeigh Capital Management LLC increased its position in shares of Interface by 11.4% during the second quarter. Reynders McVeigh Capital Management LLC now owns 489,736 shares of the textile maker’s stock worth $17,552,000 after acquiring an additional 50,054 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Interface in the 2nd quarter worth about $16,508,000. 98.34% of the stock is currently owned by institutional investors.

Interface Company Profile

Interface, Inc designs and manufactures modular flooring and interior solutions for commercial and residential spaces. Its product portfolio includes modular carpet tile, broadloom carpet, luxury vinyl tile, resilient flooring and rubber flooring, as well as acoustic products and related accessories. The company markets its offerings under brands that include Interface, FLOR and nora.

Interface serves customers in a range of industries, including corporate offices, hospitality, education, healthcare, retail and government.