Interface (NASDAQ:TILE) Reaches New 12-Month High at $19.18

Interface, Inc. (NASDAQ:TILE)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $19.18 and last traded at $19.10, with a volume of 159963 shares changing hands. The stock had previously closed at $18.87.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TILE shares. Barrington Research restated an “outperform” rating and issued a $22.00 price objective on shares of Interface in a research note on Friday, August 2nd. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

Interface Stock Up 0.8 %

The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 0.94 and a beta of 1.98. The firm has a 50 day simple moving average of $17.16 and a 200-day simple moving average of $16.16. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.76 and a quick ratio of 1.45.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.12. Interface had a net margin of 5.20% and a return on equity of 18.42%. The firm had revenue of $346.60 million for the quarter, compared to analysts’ expectations of $340.21 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Interface, Inc. will post 1.28 EPS for the current fiscal year.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Friday, August 30th. Interface’s dividend payout ratio is currently 3.96%.

Insider Transactions at Interface

In other Interface news, Director Daniel T. Hendrix sold 10,347 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $14.43, for a total transaction of $149,307.21. Following the transaction, the director now owns 248,300 shares of the company’s stock, valued at approximately $3,582,969. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Stansfield Nigel sold 17,500 shares of Interface stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $16.44, for a total transaction of $287,700.00. Following the completion of the sale, the vice president now owns 164,355 shares in the company, valued at approximately $2,701,996.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel T. Hendrix sold 10,347 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $14.43, for a total transaction of $149,307.21. Following the completion of the transaction, the director now owns 248,300 shares in the company, valued at $3,582,969. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,858 shares of company stock worth $2,091,604. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Interface

Hedge funds have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC acquired a new position in Interface in the first quarter valued at about $2,027,000. SG Americas Securities LLC grew its position in shares of Interface by 1,195.5% in the 2nd quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock valued at $1,243,000 after purchasing an additional 78,113 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Interface by 182.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock worth $2,187,000 after purchasing an additional 83,932 shares in the last quarter. Inspire Investing LLC acquired a new stake in Interface during the 1st quarter worth approximately $859,000. Finally, Panagora Asset Management Inc. lifted its stake in Interface by 7.5% in the second quarter. Panagora Asset Management Inc. now owns 291,348 shares of the textile maker’s stock valued at $4,277,000 after buying an additional 20,243 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Interface

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.