Interface, Inc. (NASDAQ:TILE) CFO Sells $765,000.00 in Stock

Interface, Inc. (NASDAQ:TILE) CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total value of $765,000.00. Following the completion of the transaction, the chief financial officer now owns 168,475 shares of the company’s stock, valued at approximately $4,296,112.50. The trade was a 15.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Interface Stock Up 1.0 %

Shares of NASDAQ:TILE opened at $25.46 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $20.64 and a two-hundred day simple moving average of $17.79. Interface, Inc. has a 12-month low of $9.87 and a 12-month high of $26.11. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.23 and a beta of 1.97.

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

Interface Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Friday, November 29th. Interface’s payout ratio is 2.80%.

Hedge Funds Weigh In On Interface

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of Interface by 1,195.5% in the second quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock worth $1,243,000 after purchasing an additional 78,113 shares during the last quarter. Private Advisor Group LLC purchased a new position in Interface in the 3rd quarter worth about $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 during the period. 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 during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of 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 during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TILE has been the subject of a number of research reports. Barrington Research increased their price objective on Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note 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.