Interface (NASDAQ:TILE) VP Sells $1,023,951.49 in Stock

Interface, Inc. (NASDAQ:TILE) VP David Foshee sold 28,451 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $35.99, for a total value of $1,023,951.49. Following the completion of the transaction, the vice president directly owned 146,563 shares of the company’s stock, valued at approximately $5,274,802.37. This trade represents a 16.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Interface Stock Performance

TILE traded down $0.54 during trading on Thursday, reaching $33.98. 35,666 shares of the company’s stock were exchanged, compared to its average volume of 525,623. The company has a market capitalization of $1.97 billion, a P/E ratio of 13.76, a PEG ratio of 1.00 and a beta of 1.92. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $35.70 and a 200 day moving average price of $31.29. Interface, Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $40.50.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.24. The company had revenue of $395.70 million during the quarter, compared to analysts’ expectations of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, analysts predict that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 4th. Interface’s dividend payout ratio is 4.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its position in Interface by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker’s stock valued at $315,000 after acquiring an additional 349 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Interface by 30.8% during the fourth quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker’s stock worth $43,000 after purchasing an additional 362 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Interface by 0.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker’s stock valued at $1,560,000 after purchasing an additional 403 shares in the last quarter. HB Wealth Management LLC raised its position in Interface by 1.0% in the 2nd quarter. HB Wealth Management LLC now owns 40,804 shares of the textile maker’s stock worth $1,462,000 after purchasing an additional 418 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Interface by 2.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker’s stock worth $722,000 after purchasing an additional 495 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analysts Set New Price Targets

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

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.