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

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

Interface Price Performance

Shares of NASDAQ:TILE opened at $36.51 on Friday. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. The company has a 50-day moving average price of $36.01 and a 200 day moving average price of $32.89. The company has a market cap of $2.12 billion, a P/E ratio of 14.67, a PEG ratio of 0.99 and a beta of 1.99. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29.

Interface (NASDAQ:TILE) last released its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.24. The company had revenue of $395.70 million for the quarter, compared to analysts’ expectations of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Research analysts predict that Interface, Inc. will post 2.36 earnings per share for the current year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.03 dividend. 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 Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake in shares of Interface by 39.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,271 shares of the textile maker’s stock worth $44,000 after acquiring an additional 357 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Interface by 1.0% in the 2nd quarter. HB Wealth Management LLC now owns 40,804 shares of the textile maker’s stock worth $1,462,000 after acquiring an additional 418 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of Interface by 0.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 309,013 shares of the textile maker’s stock worth $7,701,000 after acquiring an additional 800 shares during the period. Arjuna Capital increased its stake in Interface by 4.1% in the 1st quarter. Arjuna Capital now owns 23,577 shares of the textile maker’s stock valued at $588,000 after purchasing an additional 927 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Interface by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the textile maker’s stock valued at $62,000 after purchasing an additional 934 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TILE shares. Wall Street Zen cut Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings raised Interface from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, October 12th. Barrington Research boosted 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. Finally, Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Interface presently has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Interface Company Profile

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.