Interface, Inc. (TILE) to Issue Quarterly Dividend of $0.01 on December 13th

Interface, Inc. (NASDAQ:TILE) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.01 per share by the textile maker on Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Friday, November 29th.

Interface has decreased its dividend by an average of 25.1% per year over the last three years. Interface has a payout ratio of 2.6% 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 Price Performance

Shares of TILE traded down $0.28 during mid-day trading on Wednesday, reaching $26.54. 43,701 shares of the company’s stock were exchanged, compared to its average volume of 453,339. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. Interface has a 52-week low of $9.87 and a 52-week high of $27.34. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.29 and a beta of 1.97. The company has a 50-day simple moving average of $20.96 and a two-hundred day simple moving average of $17.96.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share 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 company had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. During the same quarter last year, the business posted $0.28 earnings per share. Interface’s revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that Interface will post 1.37 EPS for the current fiscal year.

Insider Activity

In related news, VP Stansfield Nigel sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total transaction of $482,400.00. Following the completion of the transaction, the vice president now owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. This represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total transaction of $765,000.00. Following the transaction, the chief financial officer now directly owns 168,475 shares in the company, valued at approximately $4,296,112.50. This represents a 15.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barrington Research boosted their price objective on shares of Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

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.