Interface, Inc. (NASDAQ:TILE) Announces Quarterly Dividend of $0.01

Interface, Inc. (NASDAQ:TILE) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.01 per share by the textile maker on Friday, December 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Friday, November 29th.

Interface has decreased its dividend payment by an average of 25.1% annually over the last three years. Interface has a payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Interface to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.6%.

Interface Trading Down 1.1 %

Shares of TILE stock opened at $26.52 on Thursday. The business has a 50-day moving average of $21.11 and a 200 day moving average of $18.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface has a 1-year low of $9.87 and a 1-year high of $27.34. The stock has a market capitalization of $1.55 billion, a PE ratio of 18.55, a P/E/G ratio of 1.29 and a beta of 1.97.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm had revenue of $344.30 million during the quarter, compared to analyst estimates of $336.39 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Interface will post 1.37 earnings per share for the current year.

Insider Activity at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total transaction of $765,000.00. Following the completion of the transaction, the chief financial officer now owns 168,475 shares of the company’s stock, valued at approximately $4,296,112.50. This trade represents a 15.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total value of $482,400.00. Following the transaction, the vice president now directly owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. This trade represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on TILE. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Barrington Research boosted their price target on Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, November 1st.

About Interface

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.