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

Key Points

• CEO Laurel Hurd sold 7,000 Interface shares at an average price of $36.42, generating $254,940. After the transaction, she retained 492,978 shares, a 1.4% reduction in her position.
• Interface shares traded near $36.51, with the stock up from its 12-month low of $24.40 but below its $40.50 high. The company reported quarterly EPS of $0.88, beating estimates of $0.64, while revenue rose 5.4% year over year to $395.7 million.
• Analysts maintain a “Moderate Buy” consensus on TILE, with an average price target of $40.50; the company also pays a quarterly dividend of $0.03, representing a 0.3% yield.

Interface, Inc. (NASDAQ:TILE - Get Free Report) CEO Laurel Hurd sold 7,000 shares of the stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $36.42, for a total value of $254,940.00. Following the sale, the chief executive officer owned 492,978 shares of the company's stock, valued at $17,954,258.76. This represents a 1.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, September 24th, Laurel Hurd sold 7,000 shares of Interface stock. The stock was sold at an average price of $34.99, for a total value of $244,930.00.
• On Monday, August 24th, Laurel Hurd sold 7,000 shares of Interface stock. The stock was sold at an average price of $39.09, for a total value of $273,630.00.

Interface Price Performance

TILE stock traded up $0.06 during midday trading on Tuesday, hitting $36.51. The company's stock had a trading volume of 374,740 shares, compared to its average volume of 518,385. 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, Inc. has a 12 month low of $24.40 and a 12 month high of $40.50. The company has a 50 day moving average of $36.00 and a two-hundred day moving average of $31.96. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99.

Interface (NASDAQ:TILE - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $395.70 million for the quarter, compared to analysts' expectations of $391.22 million. During the same quarter last year, the business posted $0.60 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts expect that Interface, Inc. will post 2.36 EPS for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders 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 annualized dividend and a yield of 0.3%. Interface's payout ratio is presently 4.86%.

Institutional Investors Weigh In On Interface

Hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in Interface by 39.1% in the third quarter. Farther Finance Advisors LLC now owns 1,271 shares of the textile maker's stock valued at $44,000 after buying an additional 357 shares during the last quarter. HB Wealth Management LLC increased its holdings in 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 buying an additional 418 shares during the period. Signaturefd LLC increased its holdings in Interface by 10.3% in the 3rd quarter. Signaturefd LLC now owns 5,947 shares of the textile maker's stock worth $205,000 after buying an additional 556 shares during the period. Hillsdale Investment Management Inc. increased its holdings in 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 buying an additional 800 shares during the period. Finally, Arjuna Capital raised its position in Interface by 4.1% during the 1st quarter. Arjuna Capital now owns 23,577 shares of the textile maker's stock worth $588,000 after buying an additional 927 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TILE. Zacks Research lowered Interface from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 9th. Wall Street Zen downgraded Interface from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Barrington Research increased their price target on Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded Interface from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, October 12th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.