Insider Selling: Interface (NASDAQ:TILE) Director Sells $136,200.00 in Stock

Interface, Inc. (NASDAQ:TILE) Director Daniel Hendrix sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $34.05, for a total value of $136,200.00. Following the completion of the sale, the director owned 84,147 shares of the company’s stock, valued at approximately $2,865,205.35. This trade represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Interface Price Performance

Interface stock opened at $35.19 on Friday. The stock’s fifty day moving average price is $35.87 and its two-hundred day moving average price is $31.60. Interface, Inc. has a one year low of $24.40 and a one year high of $40.50. 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 cap of $2.04 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.00 and a beta of 1.92.

Interface (NASDAQ:TILE) last released its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share 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 firm had revenue of $395.70 million during the quarter, compared to the consensus estimate of $391.22 million. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Westover Capital Advisors LLC bought a new stake in shares of Interface during the fourth quarter worth about $1,744,000. Wellington Management Group LLP raised its holdings in Interface by 91.6% in the 2nd quarter. Wellington Management Group LLP now owns 294,389 shares of the textile maker’s stock valued at $10,551,000 after buying an additional 140,745 shares during the last quarter. Edgestream Partners L.P. bought a new position in Interface in the 1st quarter valued at approximately $3,257,000. Bank of New York Mellon Corp acquired a new stake in Interface during the 2nd quarter worth approximately $16,508,000. Finally, Virtus Advisers LLC acquired a new stake in Interface during the 2nd quarter worth approximately $1,489,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Zacks Research raised shares of Interface from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Barrington Research upped their target price on Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat, Interface presently has an average rating of “Buy” and an average price target 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.