Insider Selling: Interface (NASDAQ:TILE) CEO Sells $254,940.00 in Stock

Interface, Inc. (NASDAQ:TILE) CEO Laurel Hurd sold 7,000 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $36.42, for a total transaction of $254,940.00. Following the completion of the sale, the chief executive officer owned 492,978 shares in the company, valued at $17,954,258.76. The trade was a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Laurel Hurd also recently made the following trade(s):

• On Thursday, September 24th, Laurel Hurd sold 7,000 shares of Interface stock. The shares were sold at an average price of $34.99, for a total transaction of $244,930.00.
• On Monday, August 24th, Laurel Hurd sold 7,000 shares of Interface stock. The shares were sold at an average price of $39.09, for a total transaction of $273,630.00.

Interface Stock Performance

NASDAQ:TILE traded up $0.06 during mid-day trading on Tuesday, hitting $36.51. The company’s stock had a trading volume of 374,740 shares, compared to its average volume of 518,385. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.99. Interface, Inc. has a 1 year low of $24.40 and a 1 year high of $40.50. The business’s fifty day moving average is $36.00 and its two-hundred day moving average is $31.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35.

Interface (NASDAQ:TILE) last announced its quarterly 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. The company had revenue of $395.70 million during the quarter, compared to analysts’ expectations of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%. Interface’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. Analysts anticipate that Interface, Inc. will post 2.36 EPS for the current fiscal year.

Interface Dividend Announcement

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

Institutional Trading of Interface

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP purchased a new position in Interface in the 2nd quarter valued at about $36,000. Public Employees Retirement System of Ohio purchased a new stake in Interface during the 2nd quarter worth approximately $39,000. Farther Finance Advisors LLC increased its stake in Interface by 39.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,271 shares of the textile maker’s stock worth $44,000 after buying an additional 357 shares in the last quarter. Nykredit A S acquired a new position in shares of Interface during the second quarter valued at approximately $47,000. Finally, Quantbot Technologies LP acquired a new position in shares of Interface during the second quarter valued at approximately $83,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on TILE shares. Zacks Research lowered shares of Interface from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Wall Street Zen cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Barrington Research lifted their price target on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised Interface from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, October 12th. Three investment 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, the company has an average rating of “Moderate Buy” and an average target price of $40.50.

About Interface

Interface, Inc designs and manufactures modular flooring products for commercial, institutional and residential interiors. Its portfolio includes carpet tile, broadloom carpet and resilient flooring, including luxury vinyl tile. The company serves markets such as corporate offices, hospitality, education, healthcare and retail.

Founded in 1973 by Ray Anderson, Interface is headquartered in Atlanta, Georgia, and sells its products through a global network serving customers in North America, Europe and the Asia-Pacific region.