David Foshee Sells 44,393 Shares of Interface (NASDAQ:TILE) Stock

Interface, Inc. (NASDAQ:TILE) VP David Foshee sold 44,393 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the sale, the vice president owned 175,014 shares in the company, valued at $5,075,406. This represents a 20.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Interface Price Performance

TILE stock opened at $29.13 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 2.43. The business has a 50-day simple moving average of $27.05 and a two-hundred day simple moving average of $28.56. The company has a market capitalization of $1.69 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 0.91 and a beta of 1.92. Interface, Inc. has a 52-week low of $18.74 and a 52-week high of $35.11.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. The firm had revenue of $331.04 million during the quarter, compared to the consensus estimate of $320.38 million. Interface had a return on equity of 20.09% and a net margin of 8.92%.The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. Research analysts expect that Interface, Inc. will post 2.11 EPS for the current fiscal year.

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, June 5th. Interface’s payout ratio is currently 5.61%.

Institutional Investors Weigh In On Interface

Large investors have recently made changes to their positions in the business. American Century Companies Inc. grew its position in shares of Interface by 5.5% during the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock valued at $69,819,000 after acquiring an additional 126,263 shares during the period. Congress Asset Management Co. raised its holdings in shares of Interface by 3.3% in the 4th quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock worth $73,407,000 after purchasing an additional 84,793 shares during the period. SummerHaven Investment Management LLC purchased a new position in Interface in the third quarter valued at approximately $1,102,000. JPMorgan Chase & Co. lifted its stake in Interface by 43.4% in the third quarter. JPMorgan Chase & Co. now owns 289,092 shares of the textile maker’s stock valued at $8,366,000 after purchasing an additional 87,462 shares during the last quarter. Finally, Clark Capital Management Group Inc. grew its holdings in Interface by 67.9% during the third quarter. Clark Capital Management Group Inc. now owns 623,295 shares of the textile maker’s stock valued at $18,038,000 after purchasing an additional 252,157 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TILE has been the subject of several analyst reports. Benchmark started coverage on shares of Interface in a report on Tuesday. They issued a “buy” rating and a $36.00 target price for the company. Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Barrington Research reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Interface in a research report on Friday, April 17th. Finally, Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Interface Company Profile

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.