Bruce Andrew Hausmann Sells 50,000 Shares of Interface (NASDAQ:TILE) Stock

Interface, Inc. (NASDAQ:TILE) CFO Bruce Andrew Hausmann sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total value of $1,483,000.00. Following the sale, the chief financial officer directly owned 119,256 shares in the company, valued at $3,537,132.96. This trade represents a 29.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Interface Stock Down 1.0%

Shares of Interface stock opened at $29.60 on Friday. The stock’s fifty day moving average is $27.30 and its 200-day moving average is $28.68. The firm has a market capitalization of $1.72 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.94 and a beta of 1.92. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30. Interface, Inc. has a 12-month low of $19.66 and a 12-month high of $35.11.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.08. The firm had revenue of $331.04 million for the quarter, compared to analyst estimates of $320.38 million. Interface had a return on equity of 20.09% and a net margin of 8.92%.Interface’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. Equities analysts anticipate that Interface, Inc. will post 2.11 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, June 5th. Interface’s payout ratio is presently 5.61%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its position in Interface by 180.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after purchasing an additional 631 shares during the last quarter. Larson Financial Group LLC increased its position in 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. Wexford Capital LP acquired a new position in Interface in the 3rd quarter worth about $43,000. EverSource Wealth Advisors LLC acquired a new position in Interface in the 2nd quarter worth about $35,000. Finally, Blue Trust Inc. increased its position in Interface by 88.3% in the 4th quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker’s stock worth $61,000 after purchasing an additional 1,031 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on TILE shares. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Weiss Ratings raised Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 20th. Benchmark started coverage on Interface in a research report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target on the stock. Finally, Barrington Research reissued an “outperform” rating and set a $36.00 price target on shares of Interface in a research report on Friday, April 17th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.00.

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.