Interface, Inc. Plans Quarterly Dividend of $0.01 (NASDAQ:TILE)

Interface, Inc. (NASDAQ:TILE) declared a quarterly dividend on Tuesday, August 13th, Zacks reports. Shareholders of record on Friday, August 30th will be given a dividend of 0.01 per share by the textile maker on Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Friday, August 30th.

Interface has decreased its dividend by an average of 25.1% per year over the last three years. Interface has a dividend payout ratio of 2.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Interface to earn $1.30 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 3.1%.

Interface Price Performance

Shares of Interface stock traded up $0.29 on Thursday, hitting $17.14. The company’s stock had a trading volume of 9,653 shares, compared to its average volume of 414,335. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 2.72. Interface has a 1 year low of $8.26 and a 1 year high of $18.47. The firm has a fifty day moving average price of $15.68 and a 200-day moving average price of $15.38. The company has a market capitalization of $998.29 million, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 0.93 and a beta of 2.00.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. Interface had a return on equity of 16.94% and a net margin of 4.73%. The firm had revenue of $346.60 million during the quarter, compared to analyst estimates of $340.21 million. During the same quarter in the previous year, the business earned $0.25 EPS. Interface’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Interface will post 1.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Interface news, VP Stansfield Nigel sold 17,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 directly owns 164,355 shares in the company, valued at approximately $2,701,996.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Daniel T. Hendrix sold 10,347 shares of the business’s stock in a transaction that occurred 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 directly owns 248,300 shares in the company, valued at approximately $3,582,969. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Stansfield Nigel sold 17,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $16.44, for a total value of $287,700.00. Following the transaction, the vice president now owns 164,355 shares in the company, valued at $2,701,996.20. The disclosure for this sale can be found here. In the last three months, insiders sold 79,803 shares of company stock worth $1,282,410. Corporate insiders own 2.60% of the company’s stock.

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.