Daniel T. Hendrix Sells 18,000 Shares of Interface, Inc. (NASDAQ:TILE) Stock

Interface, Inc. (NASDAQ:TILE) Director Daniel T. Hendrix sold 18,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $26.33, for a total transaction of $473,940.00. Following the completion of the transaction, the director now owns 153,147 shares in the company, valued at approximately $4,032,360.51. This represents a 10.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Interface Stock Up 1.8 %

Shares of NASDAQ TILE opened at $26.52 on Friday. The firm has a market cap of $1.55 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.29 and a beta of 2.09. The company has a 50 day simple moving average of $22.21 and a 200 day simple moving average of $18.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface, Inc. has a 1 year low of $10.75 and a 1 year high of $27.34.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.34 by $0.14. The company had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. On average, research analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Friday, November 29th. Interface’s dividend payout ratio is currently 2.80%.

Hedge Funds Weigh In On Interface

A number of large investors have recently modified their holdings of TILE. SG Americas Securities LLC lifted its stake in Interface by 1,195.5% during the 2nd quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock valued at $1,243,000 after acquiring an additional 78,113 shares in the last quarter. Private Advisor Group LLC bought a new position in Interface during the 3rd quarter valued at $790,000. Renaissance Technologies LLC lifted its stake in Interface by 11.0% during the 2nd quarter. Renaissance Technologies LLC now owns 345,400 shares of the textile maker’s stock valued at $5,070,000 after acquiring an additional 34,200 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in Interface by 46.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 176,617 shares of the textile maker’s stock valued at $2,593,000 after acquiring an additional 56,093 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Interface by 107.2% during the 2nd quarter. Victory Capital Management Inc. now owns 182,620 shares of the textile maker’s stock valued at $2,681,000 after acquiring an additional 94,499 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on TILE. Barrington Research upped their price target on shares of Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th.

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.