David Foshee Sells 44,393 Shares of Interface (NASDAQ:TILE) Stock

Interface, Inc. (NASDAQ:TILE) VP David Foshee sold 44,393 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the sale, the vice president directly owned 175,014 shares in the company, valued at approximately $5,075,406. The trade was a 20.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Interface Stock Performance

Interface stock traded up $0.81 during trading hours on Wednesday, hitting $28.18. The company had a trading volume of 154,069 shares, compared to its average volume of 526,367. The firm has a market cap of $1.63 billion, a PE ratio of 13.18, a PEG ratio of 0.90 and a beta of 1.92. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16. Interface, Inc. has a one year low of $18.74 and a one year high of $35.11. The firm has a 50-day moving average of $26.99 and a 200 day moving average of $28.51.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.08. The firm had revenue of $331.04 million for the quarter, compared to analysts’ expectations of $320.38 million. Interface had a net margin of 8.92% and a return on equity of 20.09%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. On average, sell-side analysts expect that Interface, Inc. will post 2.11 earnings per share for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, June 5th. Interface’s dividend payout ratio is currently 5.61%.

Institutional Trading of Interface

Large investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its position in shares of Interface by 180.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after acquiring an additional 631 shares in the last quarter. TD Private Client Wealth LLC acquired a new stake in shares of Interface during the 3rd quarter worth approximately $32,000. Larson Financial Group LLC boosted its position in shares of Interface by 114.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock worth $34,000 after acquiring an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Interface in the second quarter valued at approximately $35,000. Finally, Wexford Capital LP acquired a new stake in Interface in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barrington Research reissued an “outperform” rating and issued a $36.00 price target on shares of Interface in a report on Friday, April 17th. Benchmark initiated coverage on shares of Interface in a research report on Tuesday. They set a “buy” rating and a $36.00 target price on the stock. Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Interface currently has an average rating of “Moderate Buy” and an average price target of $36.00.

About Interface

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.