Interface (NASDAQ:TILE) VP Sells $1,023,951.49 in Stock

Interface, Inc. (NASDAQ:TILE) VP David Foshee sold 28,451 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $35.99, for a total transaction of $1,023,951.49. Following the sale, the vice president directly owned 146,563 shares of the company’s stock, valued at approximately $5,274,802.37. This trade represents a 16.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Interface Trading Up 0.8%

Interface stock opened at $34.13 on Friday. Interface, Inc. has a 1 year low of $24.40 and a 1 year high of $40.50. The firm’s 50 day moving average price is $35.63 and its 200-day moving average price is $31.32. 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 stock has a market cap of $1.98 billion, a P/E ratio of 13.82, a PEG ratio of 0.96 and a beta of 1.92.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.24. The firm had revenue of $395.70 million during the quarter, compared to analyst estimates of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. Interface’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, equities analysts predict 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 will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Interface’s dividend payout ratio (DPR) is presently 4.86%.

Wall Street Analysts Forecast Growth

TILE has been the subject of a number of research reports. Zacks Research raised Interface from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. Weiss Ratings raised Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Barrington Research upped their price objective 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 shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Benchmark initiated coverage on shares of Interface in a research report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $40.50.

Institutional Investors Weigh In On Interface

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TILE. Royal Bank of Canada boosted its holdings in shares of Interface by 8.4% in the 1st quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock worth $390,000 after purchasing an additional 1,522 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Interface by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after buying an additional 1,485 shares during the period. Goldman Sachs Group Inc. lifted its position in Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock worth $14,854,000 after buying an additional 42,011 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Interface by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock worth $3,015,000 after buying an additional 9,580 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Interface by 24.7% during the second quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker’s stock worth $4,220,000 after buying an additional 39,941 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

About Interface

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.