Insider Selling: Interface (NASDAQ:TILE) CEO Sells 7,000 Shares of Company Stock

Key Points

• Interface CEO Laurel Hurd sold 7,000 shares at an average price of $34.99, generating $244,930 and reducing her ownership by 1.38%; she now holds 499,978 shares.
• Interface reported strong quarterly results, with EPS of $0.88 versus the $0.64 consensus estimate and revenue of $395.7 million, up 5.4% year over year.
• The stock traded near $35.20, while analysts maintained a consensus “Buy” rating with a $40.50 target price; institutional investors own 98.34% of the shares.

Interface, Inc. (NASDAQ:TILE - Get Free Report) CEO Laurel Hurd sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $34.99, for a total value of $244,930.00. Following the completion of the sale, the chief executive officer owned 499,978 shares of the company's stock, valued at $17,494,230.22. This trade represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Laurel Hurd also recently made the following trade(s):

• On Monday, August 24th, Laurel Hurd sold 7,000 shares of Interface stock. The shares were sold at an average price of $39.09, for a total transaction of $273,630.00.

Interface Stock Performance

NASDAQ TILE traded up $0.01 during trading hours on Friday, reaching $35.20. The company's stock had a trading volume of 329,073 shares, compared to its average volume of 526,863. The stock has a market cap of $2.04 billion, a PE ratio of 14.25, a PEG ratio of 1.00 and a beta of 1.92. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $35.87 and a 200 day simple moving average of $31.60.

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

Interface Announces Dividend

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

Hedge Funds Weigh In On Interface

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Interface during the 2nd quarter worth approximately $338,055,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Interface in the second quarter worth $66,077,000. GW&K Investment Management LLC increased its stake in shares of Interface by 12.7% in the fourth quarter. GW&K Investment Management LLC now owns 993,413 shares of the textile maker's stock valued at $27,736,000 after buying an additional 111,564 shares in the last quarter. Reynders McVeigh Capital Management LLC raised its holdings in shares of Interface by 11.4% in the second quarter. Reynders McVeigh Capital Management LLC now owns 489,736 shares of the textile maker's stock valued at $17,552,000 after buying an additional 50,054 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Interface in the second quarter worth about $16,508,000. 98.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TILE. Wall Street Zen downgraded shares of Interface from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Zacks Research raised shares of Interface from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 26th. Weiss Ratings upgraded shares of Interface from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 12th. Finally, Barrington Research increased their target price on Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $40.50.

About Interface

Interface, Inc designs and manufactures modular flooring and interior solutions for commercial and residential spaces. Its product portfolio includes modular carpet tile, broadloom carpet, luxury vinyl tile, resilient flooring and rubber flooring, as well as acoustic products and related accessories. The company markets its offerings under brands that include Interface, FLOR and nora.

Interface serves customers in a range of industries, including corporate offices, hospitality, education, healthcare, retail and government.

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