Interface, Inc. (NASDAQ:TILE) to Issue $0.01 Quarterly Dividend

Interface, Inc. (NASDAQ:TILE) declared a quarterly dividend on Wednesday, March 12th, Wall Street Journal reports. Investors of record on Friday, March 28th will be paid a dividend of 0.01 per share by the textile maker on Friday, April 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Friday, March 28th.

Interface has a payout ratio of 2.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Interface to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.6%.

Interface Stock Down 0.2 %

Shares of NASDAQ TILE opened at $18.78 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The company has a market cap of $1.10 billion, a P/E ratio of 13.13, a PEG ratio of 0.96 and a beta of 2.18. Interface has a 1 year low of $14.13 and a 1 year high of $27.34. The firm has a 50-day simple moving average of $22.34 and a two-hundred day simple moving average of $22.00.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm had revenue of $335.00 million during the quarter, compared to the consensus estimate of $340.51 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Research analysts anticipate that Interface will post 1.37 earnings per share for the current year.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total value of $297,250.00. Following the transaction, the director now directly owns 103,647 shares of the company’s stock, valued at approximately $2,464,725.66. The trade was a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 32,500 shares of company stock valued at $748,125 over the last ninety days. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

TILE has been the subject of several research analyst reports. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and set a $30.00 price objective on shares of Interface in a report on Tuesday, February 25th.

Interface Company Profile

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.