Daniel T. Hendrix Sells 1,400 Shares of Interface, Inc. (NASDAQ:TILE) Stock

Interface, Inc. (NASDAQ:TILE) Director Daniel T. Hendrix sold 1,400 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $17.51, for a total value of $24,514.00. Following the transaction, the director now owns 212,247 shares of the company’s stock, valued at $3,716,444.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Interface Trading Down 1.7 %

Shares of TILE traded down $0.30 during trading hours on Monday, reaching $17.10. The stock had a trading volume of 185,764 shares, compared to its average volume of 403,962. The firm has a 50-day moving average of $15.37 and a 200 day moving average of $14.97. The company has a quick ratio of 1.30, a current ratio of 2.72 and a debt-to-equity ratio of 0.89. The company has a market cap of $995.90 million, a P/E ratio of 17.23, a P/E/G ratio of 0.98 and a beta of 2.01. Interface, Inc. has a 52 week low of $8.26 and a 52 week high of $18.47.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, May 3rd. The textile maker reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.12. Interface had a return on equity of 16.94% and a net margin of 4.73%. The company had revenue of $289.70 million during the quarter, compared to the consensus estimate of $284.76 million. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Interface, Inc. will post 1.18 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, May 31st. Interface’s payout ratio is currently 3.96%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC acquired a new position in Interface in the 1st quarter worth $2,027,000. State Board of Administration of Florida Retirement System boosted its position in shares of Interface by 182.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock worth $2,187,000 after buying an additional 83,932 shares during the period. Access Investment Management LLC bought a new position in shares of Interface during the fourth quarter worth about $2,024,000. Inspire Investing LLC acquired a new stake in Interface in the 1st quarter valued at approximately $859,000. Finally, Federated Hermes Inc. bought a new stake in Interface in the 4th quarter valued at approximately $1,187,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and set a $22.00 price objective on shares of Interface in a research note on Monday, June 17th.

Interface Company Profile

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.