Interface (NASDAQ:TILE) Stock: Insider Daniel Hendrix Sells 4,000 Shares

Interface, Inc. (NASDAQ:TILE) Director Daniel Hendrix sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $35.39, for a total value of $141,560.00. Following the completion of the sale, the director owned 80,147 shares in the company, valued at $2,836,402.33. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Interface Stock Up 0.6%

TILE opened at $35.64 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29. The firm has a market cap of $2.07 billion, a P/E ratio of 14.83, a PEG ratio of 1.00 and a beta of 1.99. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. The business’s fifty day simple moving average is $36.13 and its 200 day simple moving average is $32.75.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%. The firm had revenue of $395.70 million during the quarter, compared to analysts’ expectations of $391.22 million. During the same quarter last year, the business posted $0.60 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Interface’s payout ratio is 4.86%.

Institutional Investors Weigh In On Interface

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Interface in the second quarter worth $338,055,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Interface in the 2nd quarter valued at $66,077,000. Reynders McVeigh Capital Management LLC lifted its holdings in shares of Interface by 11.4% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 489,736 shares of the textile maker’s stock valued at $17,552,000 after acquiring an additional 50,054 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Interface during the 2nd quarter valued at $16,508,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Interface by 107.6% during the 1st quarter. Renaissance Technologies LLC now owns 460,156 shares of the textile maker’s stock valued at $11,467,000 after acquiring an additional 238,515 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TILE shares. Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Barrington Research raised their target price on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Interface from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, October 12th. Finally, Zacks Research cut Interface from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Interface has an average rating of “Moderate Buy” and an average target price of $40.50.

About Interface

Interface, Inc designs and manufactures modular flooring products for commercial, institutional and residential interiors. Its portfolio includes carpet tile, broadloom carpet and resilient flooring, including luxury vinyl tile. The company serves markets such as corporate offices, hospitality, education, healthcare and retail.

Founded in 1973 by Ray Anderson, Interface is headquartered in Atlanta, Georgia, and sells its products through a global network serving customers in North America, Europe and the Asia-Pacific region.