Insider Selling: Interface (NASDAQ:TILE) CEO Sells $254,940.00 in Stock

Interface, Inc. (NASDAQ:TILE) CEO Laurel Hurd sold 7,000 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $36.42, for a total value of $254,940.00. Following the completion of the sale, the chief executive officer directly owned 492,978 shares of the company’s stock, valued at approximately $17,954,258.76. This trade represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Laurel Hurd also recently made the following trade(s):

• On Thursday, September 24th, Laurel Hurd sold 7,000 shares of Interface stock. The stock was sold at an average price of $34.99, for a total transaction of $244,930.00.
• On Monday, August 24th, Laurel Hurd sold 7,000 shares of Interface stock. The stock was sold at an average price of $39.09, for a total transaction of $273,630.00.

Interface Stock Up 2.6%

Interface stock opened at $36.87 on Friday. The company has a market capitalization of $2.14 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.01 and a beta of 1.99. The firm’s fifty day simple moving average is $35.84 and its 200-day simple moving average is $32.10. Interface, Inc. has a 1-year low of $24.40 and a 1-year high of $40.50. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, beating 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 company had revenue of $395.70 million for the quarter, compared to the consensus estimate of $391.22 million. During the same quarter last year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts forecast that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TILE. Weiss Ratings cut Interface from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday. Barrington Research lifted their price target on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Zacks Research cut Interface from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Finally, Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming acquired a new position in Interface in the 3rd quarter worth $137,000. Signaturefd LLC lifted its stake in Interface by 10.3% in the 3rd quarter. Signaturefd LLC now owns 5,947 shares of the textile maker’s stock valued at $205,000 after acquiring an additional 556 shares in the last quarter. Simplicity Wealth LLC acquired a new position in Interface during the 3rd quarter worth approximately $325,000. Vest Financial LLC acquired a new stake in shares of Interface in the third quarter valued at approximately $1,793,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Interface by 43.4% during the third quarter. Nisa Investment Advisors LLC now owns 3,859 shares of the textile maker’s stock worth $133,000 after purchasing an additional 1,168 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Company Profile

Interface, Inc designs and manufactures modular flooring products for commercial, institutional and residential interiors. Its portfolio includes carpet tile, broadloom carpet and resilient flooring, including luxury vinyl tile. The company serves markets such as corporate offices, hospitality, education, healthcare and retail.

Founded in 1973 by Ray Anderson, Interface is headquartered in Atlanta, Georgia, and sells its products through a global network serving customers in North America, Europe and the Asia-Pacific region.