Interface, Inc. (NASDAQ:TILE) VP Stansfield Nigel Sells 19,990 Shares

Interface, Inc. (NASDAQ:TILE) VP Stansfield Nigel sold 19,990 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $16.24, for a total transaction of $324,637.60. Following the sale, the vice president now directly owns 181,855 shares in the company, valued at $2,953,325.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Interface Stock Down 1.5 %

Shares of NASDAQ:TILE traded down $0.24 during midday trading on Tuesday, reaching $16.19. The company had a trading volume of 661,902 shares, compared to its average volume of 392,752. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.72 and a quick ratio of 1.30. The stock’s fifty day moving average price is $15.92 and its 200-day moving average price is $13.01. The stock has a market capitalization of $942.26 million, a P/E ratio of 16.21, a PEG ratio of 1.10 and a beta of 1.99. Interface, Inc. has a one year low of $6.51 and a one year high of $18.47.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, May 3rd. The textile maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. The firm had revenue of $289.70 million during the quarter, compared to the consensus estimate of $284.76 million. Interface had a net margin of 4.73% and a return on equity of 16.94%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. Equities research analysts expect that Interface, Inc. will post 1.05 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Wednesday, March 27th. Interface’s dividend payout ratio is presently 3.96%.

Hedge Funds Weigh In On Interface

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in Interface by 6.0% in the third quarter. Wellington Management Group LLP now owns 2,496,114 shares of the textile maker’s stock worth $24,487,000 after purchasing an additional 140,521 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Interface by 65.2% during the third quarter. Pzena Investment Management LLC now owns 3,614,372 shares of the textile maker’s stock valued at $35,457,000 after acquiring an additional 1,426,749 shares during the period. American Century Companies Inc. boosted its holdings in shares of Interface by 29.4% during the third quarter. American Century Companies Inc. now owns 610,702 shares of the textile maker’s stock valued at $5,991,000 after acquiring an additional 138,800 shares during the period. Federated Hermes Inc. acquired a new position in shares of Interface during the fourth quarter valued at $1,187,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Interface during the fourth quarter valued at $401,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TheStreet raised shares of Interface from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Truist Financial lifted their price objective on shares of Interface from $10.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Finally, Barrington Research lifted their price target on shares of Interface from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday.

About Interface

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.