Insider Selling: Interface (NASDAQ:TILE) CEO Sells $273,630.00 in Stock

Key Points

• CEO Laurel Hurd sold 7,000 Interface shares for $273,630 at an average price of $39.09, reducing her direct stake by 1.36% to 506,978 shares.
• Interface reported quarterly EPS of $0.88, beating estimates of $0.64, while revenue rose 5.4% year over year to $395.7 million. Shares recently traded at $38.27, near the company’s 12-month high.
• Analysts maintain a “Moderate Buy” consensus with a $40.50 price target, while institutional investors own 98.34% of the stock. The company also announced a quarterly dividend of $0.03 per share.

Interface, Inc. (NASDAQ:TILE - Get Free Report) CEO Laurel Hurd sold 7,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $39.09, for a total value of $273,630.00. Following the completion of the transaction, the chief executive officer directly owned 506,978 shares of the company's stock, valued at approximately $19,817,770.02. The trade was a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Interface Stock Performance

Shares of TILE traded down $0.67 during trading hours on Monday, reaching $38.27. 320,545 shares of the company's stock traded hands, compared to its average volume of 526,570. Interface, Inc. has a twelve month low of $24.40 and a twelve month high of $40.50. The business's fifty day simple moving average is $34.73 and its two-hundred day simple moving average is $30.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 1.10 and a beta of 1.90.

Interface (NASDAQ:TILE - Get Free Report) last announced its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.24. The firm had revenue of $395.70 million during 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%. Interface's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Analysts predict that Interface, Inc. will post 2.36 earnings per share for the current year.

Interface Dividend Announcement

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 $0.03 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Interface's dividend payout ratio (DPR) is 4.86%.

Wall Street Analyst Weigh In

TILE has been the topic of several recent analyst reports. Weiss Ratings raised Interface from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Zacks Research cut Interface from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Barrington Research boosted their price objective on Interface from $36.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Benchmark started coverage on Interface in a report on Tuesday, May 19th. They issued a "buy" rating and a $36.00 price objective for the company. Finally, Wall Street Zen cut Interface from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Interface has a consensus rating of "Moderate Buy" and a consensus price target of $40.50.

Institutional Trading of Interface

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its holdings in Interface by 4,232.4% during the second quarter. California State Teachers Retirement System now owns 2,313,042 shares of the textile maker's stock worth $82,899,000 after buying an additional 2,259,653 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Interface by 1.0% during the 2nd quarter. HB Wealth Management LLC now owns 40,804 shares of the textile maker's stock valued at $1,462,000 after acquiring an additional 418 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Interface during the 2nd quarter valued at $392,000. Nykredit A S bought a new stake in shares of Interface during the 2nd quarter worth $47,000. Finally, Susquehanna Fundamental Investments LLC boosted its stake in shares of Interface by 133.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 82,022 shares of the textile maker's stock worth $2,940,000 after acquiring an additional 46,840 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.

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