Interface, Inc. (NASDAQ:TILE) Declares Quarterly Dividend of $0.03

Interface, Inc. (NASDAQ:TILE) declared a quarterly dividend on Thursday, August 20th. Investors of record on Friday, September 4th will be paid a dividend of 0.03 per share by the textile maker on Friday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th.

Interface has decreased its dividend by an average of 0.1%per year over the last three years. Interface has a payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Interface to earn $2.54 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 4.7%.

Interface Stock Down 0.6%

Interface stock opened at $39.08 on Friday. The stock has a market cap of $2.27 billion, a PE ratio of 15.82, a P/E/G ratio of 1.11 and a beta of 1.90. 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 stock’s fifty day moving average is $34.59 and its two-hundred day moving average is $30.91. Interface has a 1-year low of $24.40 and a 1-year high of $40.50.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $391.22 million. During the same period in the prior year, the firm posted $0.60 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Interface will post 2.36 EPS for the current fiscal year.

Insider Activity at Interface

In related news, CFO Bruce Andrew Hausmann sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the transaction, the chief financial officer owned 119,256 shares of the company’s stock, valued at $3,537,132.96. This trade represents a 29.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TILE. BlackRock Inc. purchased a new stake in shares of Interface during the second quarter worth approximately $338,055,000. Dimensional Fund Advisors LP boosted its holdings 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 valued at $75,105,000 after acquiring an additional 36,530 shares in the last quarter. State Street Corp increased its stake in shares of Interface by 0.7% during the fourth 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 during the period. Fuller & Thaler Asset Management Inc. raised its holdings in 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. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Interface during the second quarter worth about $66,077,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.