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

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

Interface Trading Down 1.7%

NASDAQ TILE traded down $0.67 on Monday, hitting $38.27. 320,545 shares of the company were exchanged, compared to its average volume of 526,570. The company’s 50 day moving average price is $34.73 and its 200-day moving average price is $30.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. The firm has a market capitalization of $2.22 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.90. Interface, Inc. has a twelve month low of $24.40 and a twelve month high of $40.50.

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

Interface Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Trading of Interface

Several institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in Interface by 4,232.4% during the second quarter. California State Teachers Retirement System now owns 2,313,042 shares of the textile maker’s stock valued at $82,899,000 after purchasing an additional 2,259,653 shares in the last quarter. HB Wealth Management LLC lifted its position in Interface by 1.0% in the 2nd quarter. HB Wealth Management LLC now owns 40,804 shares of the textile maker’s stock worth $1,462,000 after buying an additional 418 shares in the last quarter. AXQ Capital LP purchased a new stake in Interface in the 2nd quarter worth approximately $392,000. Nykredit A S acquired a new stake in shares of Interface during the 2nd quarter valued at $47,000. Finally, Susquehanna Fundamental Investments LLC raised its holdings in shares of Interface by 133.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 82,022 shares of the textile maker’s stock worth $2,940,000 after acquiring an additional 46,840 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.