Daniel Hendrix Sells 8,000 Shares of Interface (NASDAQ:TILE) Stock

Interface, Inc. (NASDAQ:TILE) Director Daniel Hendrix sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $37.13, for a total value of $297,040.00. Following the completion of the sale, the director owned 88,147 shares of the company’s stock, valued at $3,272,898.11. The trade was a 8.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Interface Stock Up 2.3%

Shares of NASDAQ:TILE opened at $37.24 on Friday. The business’s 50 day moving average is $35.71 and its 200 day moving average is $31.26. The stock has a market cap of $2.16 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.05 and a beta of 1.92. Interface, Inc. has a 52-week low of $24.40 and a 52-week high of $40.50. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29.

Interface (NASDAQ:TILE) last issued 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 business had revenue of $395.70 million during the quarter, compared to analyst estimates of $391.22 million. During the same period in the previous year, the company posted $0.60 EPS. Interface’s revenue was up 5.4% on a year-over-year basis. Sell-side analysts predict that Interface, Inc. will post 2.36 EPS for the current year.

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Interface’s payout ratio is presently 4.86%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TILE shares. Benchmark started coverage on shares of Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 target price on the stock. Zacks Research raised shares of Interface from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 26th. Weiss Ratings upgraded shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Barrington Research boosted their price target on Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, Interface currently has an average rating of “Buy” and an average target price of $40.50.

Institutional Investors Weigh In On Interface

A number of hedge funds and other institutional investors have recently made changes to their positions in TILE. Royal Bank of Canada grew its position in shares of Interface by 8.4% during the 1st quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock valued at $390,000 after acquiring an additional 1,522 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Interface by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after purchasing an additional 1,485 shares during the period. Goldman Sachs Group Inc. grew its holdings in Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock valued at $14,854,000 after purchasing an additional 42,011 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Interface by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock valued at $3,015,000 after buying an additional 9,580 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Interface by 24.7% in the second quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker’s stock valued at $4,220,000 after buying an additional 39,941 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.