Interface (NASDAQ:TILE) Director Sells $297,040.00 in Stock

Key Points

• Interface director Daniel Hendrix sold 8,000 shares at an average price of $37.13, generating $297,040. The sale, conducted under a Rule 10b5-1 plan, reduced his direct ownership by 8.32% to 88,147 shares.
• Interface shares recently traded around $37.11, up 2.0%, while the company reported quarterly EPS of $0.88—beating estimates of $0.64—and revenue of $395.7 million, up 5.4% year over year.
• Analysts maintain a consensus “Buy” rating with a $40.50 target price, and the company declared a quarterly dividend of $0.03 per share. Institutional investors own approximately 98.34% of the stock.

Interface, Inc. (NASDAQ:TILE - Get Free Report) Director Daniel Hendrix sold 8,000 shares of Interface stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $37.13, for a total transaction of $297,040.00. Following the completion of the sale, the director directly owned 88,147 shares of the company's stock, valued at $3,272,898.11. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Interface Trading Up 2.0%

Shares of Interface stock traded up $0.72 during trading hours on Friday, reaching $37.11. 208,813 shares of the company's stock were exchanged, compared to its average volume of 523,919. Interface, Inc. has a 52-week low of $24.40 and a 52-week high of $40.50. The company has a fifty day moving average of $35.68 and a 200-day moving average of $31.22. 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 firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.04 and a beta of 1.92.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The business 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 business earned $0.60 earnings per share. The business's revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts forecast that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Announces Dividend

The business also recently disclosed 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. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Interface's dividend payout ratio is presently 4.86%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Zacks Research raised shares of Interface from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 26th. Benchmark began coverage on shares of Interface in a research note on Tuesday, May 19th. They set a "buy" rating and a $36.00 price objective for the company. Weiss Ratings upgraded Interface from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Wall Street Zen lowered Interface from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Barrington Research lifted 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 analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $40.50.

Institutional Investors Weigh In On Interface

Several institutional investors have recently bought and sold shares of TILE. BlackRock Inc. acquired a new position in shares of Interface during the 2nd quarter valued at $338,055,000. Dimensional Fund Advisors LP boosted its position in shares of Interface by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker's stock worth $75,105,000 after buying an additional 36,530 shares during the period. California State Teachers Retirement System grew its stake in shares of Interface by 4,232.4% in the second quarter. California State Teachers Retirement System now owns 2,313,042 shares of the textile maker's stock valued at $82,899,000 after buying an additional 2,259,653 shares in the last quarter. State Street Corp lifted its position in Interface by 0.7% during the 4th quarter. State Street Corp now owns 2,192,472 shares of the textile maker's stock worth $61,214,000 after acquiring an additional 14,764 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of Interface by 133.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker's stock worth $56,071,000 after purchasing an additional 1,149,733 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Interface Company Profile

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.

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