Interface, Inc. (NASDAQ:TILE) Declares Dividend of $0.02

Key Points

• Interface, Inc. has declared a dividend of $0.02 per share, payable on September 12th to stockholders of record by August 29th.
• The company reported $0.60 earnings per share for the last quarter, exceeding analysts' expectations of $0.47, with revenue of $375.52 million.
• Interface's current payout ratio stands at 2.2%, indicating strong coverage of its dividend by earnings.

Interface, Inc. (NASDAQ:TILE - Get Free Report) announced a dividend on Tuesday, August 12th, NASDAQ Dividends reports. Shareholders of record on Friday, August 29th will be paid a dividend of 0.02 per share by the textile maker on Friday, September 12th. The ex-dividend date of this dividend is Friday, August 29th.

Interface has a dividend payout ratio of 2.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Interface to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.6%.

Interface Trading Up 1.0%

Shares of NASDAQ:TILE traded up $0.27 during trading hours on Tuesday, hitting $27.03. 37,216 shares of the company's stock traded hands, compared to its average volume of 452,982. Interface has a 1 year low of $17.04 and a 1 year high of $27.34. The business has a fifty day moving average price of $22.13 and a 200-day moving average price of $20.78. The firm has a market capitalization of $1.58 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.04 and a beta of 2.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59.

Interface (NASDAQ:TILE - Get Free Report) last announced its earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.13. Interface had a return on equity of 18.97% and a net margin of 7.08%. The business had revenue of $375.52 million during the quarter, compared to analyst estimates of $360.57 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts expect that Interface will post 1.37 earnings per share for the current year.

Insider Buying and Selling

In related news, VP James Poppens sold 19,474 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $20.14, for a total value of $392,206.36. Following the completion of the sale, the vice president owned 130,142 shares in the company, valued at approximately $2,621,059.88. The trade was a 13.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stansfield Nigel sold 79,497 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $25.60, for a total value of $2,035,123.20. Following the completion of the sale, the vice president owned 65,125 shares of the company's stock, valued at $1,667,200. The trade was a 54.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,497 shares of company stock valued at $2,437,913 in the last quarter. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Interface

A number of large investors have recently made changes to their positions in TILE. IFP Advisors Inc increased its position in shares of Interface by 2,695.2% during the second quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker's stock worth $25,000 after purchasing an additional 1,132 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Interface in the 2nd quarter valued at $35,000. Virtus Fund Advisers LLC acquired a new position in shares of Interface in the 4th quarter valued at $48,000. Versant Capital Management Inc increased its position in shares of Interface by 49.6% in the 1st quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock valued at $49,000 after acquiring an additional 815 shares during the period. Finally, Virtus Advisers LLC acquired a new position in shares of Interface in the 1st quarter valued at $57,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Interface Company Profile

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.