Insider Selling: Interface (NASDAQ:TILE) VP Sells $1,023,951.49 in Stock

Interface, Inc. (NASDAQ:TILE) VP David Foshee sold 28,451 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $35.99, for a total value of $1,023,951.49. Following the sale, the vice president directly owned 146,563 shares of the company’s stock, valued at $5,274,802.37. This trade represents a 16.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Interface Stock Down 1.6%

Shares of NASDAQ TILE traded down $0.54 during trading hours on Thursday, hitting $33.98. The stock had a trading volume of 35,666 shares, compared to its average volume of 525,623. The company has a market capitalization of $1.97 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.00 and a beta of 1.92. The firm’s 50-day moving average price is $35.70 and its two-hundred day moving average price is $31.29. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.24. The firm had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. Analysts anticipate that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Interface’s dividend payout ratio (DPR) is currently 4.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC lifted its stake in shares of Interface by 180.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock valued at $27,000 after buying an additional 631 shares during the period. Allworth Financial LP bought a new position in Interface during the second quarter valued at about $36,000. Public Employees Retirement System of Ohio acquired a new position in Interface in the 2nd quarter valued at approximately $39,000. Larson Financial Group LLC raised its holdings in Interface by 114.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 628 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of Interface in the 2nd quarter worth approximately $47,000. Institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

TILE has been the topic of several analyst reports. Wall Street Zen downgraded shares of 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 research report on Wednesday, August 12th. Benchmark initiated coverage on Interface in a research note on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target for the company. Barrington Research increased their price objective on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Zacks Research raised Interface from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $40.50.

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.