Key Points
- Interface VP David Foshee sold 44,393 shares on May 18 at an average price of $29.00, generating about $1.29 million in proceeds. After the sale, he still held 175,014 shares, a 20.23% reduction in his position.
- Interface recently reported better-than-expected quarterly results, posting EPS of $0.41 versus estimates of $0.33 and revenue of $331.04 million, up 11.3% year over year. Analysts now expect full-year EPS of 2.11.
- The company also announced a quarterly dividend of $0.03 per share, payable June 18, for an annualized yield of about 0.4%. Meanwhile, analysts generally remain positive, with a consensus Moderate Buy rating and an average price target of $36.00.
Interface, Inc. (NASDAQ:TILE - Get Free Report) VP David Foshee sold 44,393 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $29.00, for a total value of $1,287,397.00. Following the sale, the vice president owned 175,014 shares in the company, valued at $5,075,406. This trade represents a 20.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Interface Price Performance
TILE stock opened at $28.75 on Thursday. Interface, Inc. has a 52-week low of $18.74 and a 52-week high of $35.11. The stock's fifty day simple moving average is $27.01 and its 200-day simple moving average is $28.53. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.86 and a beta of 1.92.
Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.08. Interface had a return on equity of 20.09% and a net margin of 8.92%.The business had revenue of $331.04 million for the quarter, compared to analysts' expectations of $320.38 million. During the same quarter last year, the firm earned $0.25 earnings per share. The business's revenue was up 11.3% on a year-over-year basis. Equities research analysts expect that Interface, Inc. will post 2.11 EPS for the current year.
Interface Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, June 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Interface's dividend payout ratio (DPR) is 5.61%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of TILE. Royal Bank of Canada lifted its stake in shares of Interface by 8.4% in the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker's stock worth $390,000 after acquiring an additional 1,522 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Interface by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker's stock worth $677,000 after acquiring an additional 1,485 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker's stock worth $14,854,000 after acquiring an additional 42,011 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Interface by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker's stock worth $3,015,000 after acquiring an additional 9,580 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Interface by 24.7% in the second quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker's stock worth $4,220,000 after acquiring an additional 39,941 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.
Analyst Ratings Changes
Several research firms have recently issued reports on TILE. Wall Street Zen upgraded Interface from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Benchmark assumed coverage on Interface in a report on Tuesday. They issued a "buy" rating and a $36.00 target price on the stock. Barrington Research reiterated an "outperform" rating and issued a $36.00 target price on shares of Interface in a report on Friday, April 17th. Finally, Weiss Ratings upgraded Interface from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.00.
Get Our Latest Research Report on TILE
Interface Company Profile
(
Get Free Report)
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.
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