Interface (NASDAQ:TILE) CEO Laurel Hurd Sells 7,000 Shares of Stock

Interface, Inc. (NASDAQ:TILE) CEO Laurel Hurd sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.09, for a total transaction of $273,630.00. Following the completion of the transaction, the chief executive officer owned 506,978 shares in the company, valued at $19,817,770.02. The trade was a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Interface Price Performance

Interface stock opened at $38.27 on Tuesday. Interface, Inc. has a 52-week low of $24.40 and a 52-week high of $40.50. The firm has a fifty day moving average of $34.87 and a 200-day moving average of $31.00. The firm has a market capitalization of $2.22 billion, a P/E ratio of 15.49, a PEG ratio of 1.10 and a beta of 1.90. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.24. Interface had a net margin of 10.10% and a return on equity of 21.77%. The business had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. During the same quarter in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts predict that Interface, Inc. will post 2.36 EPS for the current year.

Interface Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Interface’s dividend payout ratio is presently 4.86%.

Wall Street Analyst Weigh In

TILE has been the subject of a number of analyst reports. Barrington Research upped their price target on Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Benchmark assumed coverage on shares of Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target for the company. Finally, Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.50.

Institutional Trading of Interface

A number of hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC raised its holdings in Interface by 180.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 631 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Interface by 114.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock worth $34,000 after purchasing an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Interface in the 2nd quarter worth about $35,000. Allworth Financial LP acquired a new position in Interface in the second quarter worth about $36,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Interface in the second quarter valued at about $39,000. 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.