Interface, Inc. (NASDAQ:TILE) Plans Quarterly Dividend of $0.03

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Tuesday, February 24th. Investors of record on Friday, March 27th will be given a dividend of 0.03 per share by the textile maker on Friday, April 10th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 27th. This is a 50.0% increase from Interface’s previous quarterly dividend of $0.02.

Interface has decreased its dividend payment by an average of 0.3%annually over the last three years. Interface has a payout ratio of 4.5% 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 $0.08 annual dividend with an expected future payout ratio of 5.2%.

Interface Stock Up 1.2%

Interface stock traded up $0.38 during trading hours on Tuesday, hitting $31.88. The company had a trading volume of 746,554 shares, compared to its average volume of 385,829. Interface has a fifty-two week low of $17.24 and a fifty-two week high of $35.11. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.89 and a quick ratio of 1.70. The firm has a market capitalization of $1.86 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 1.09 and a beta of 1.90. The firm’s fifty day moving average is $30.89 and its 200-day moving average is $28.58.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Tuesday, February 24th. The textile maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.40 by $0.09. Interface had a net margin of 8.27% and a return on equity of 19.30%. The business had revenue of $349.39 million for the quarter, compared to analysts’ expectations of $350.54 million. During the same period in the previous year, the company posted $0.34 EPS. Interface’s revenue was up 4.3% on a year-over-year basis. On average, research analysts forecast that Interface will post 1.37 earnings per share for the current year.

Institutional Trading of Interface

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TILE. Fuller & Thaler Asset Management Inc. boosted its stake in Interface by 133.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock worth $56,071,000 after buying an additional 1,149,733 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Interface during the 4th quarter worth about $471,000. Zacks Investment Management lifted its holdings in shares of Interface by 40.2% during the 4th quarter. Zacks Investment Management now owns 53,739 shares of the textile maker’s stock worth $1,500,000 after acquiring an additional 15,401 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Interface during the 4th quarter valued at about $209,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Interface in the 4th quarter valued at approximately $224,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Interface

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.