Interface (NASDAQ:TILE) Sets New 12-Month High at $18.52

Interface, Inc. (NASDAQ:TILE) shares reached a new 52-week high during trading on Friday . The stock traded as high as $18.52 and last traded at $18.52, with a volume of 152235 shares changing hands. The stock had previously closed at $17.79.

Wall Street Analysts Forecast Growth

TILE has been the subject of several recent analyst reports. Barrington Research reissued an “outperform” rating and issued a $22.00 price target on shares of Interface in a research note on Friday, August 2nd. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.

Interface Stock Up 4.6 %

The stock has a 50 day moving average price of $15.99 and a 200 day moving average price of $15.56. The company has a market cap of $1.08 billion, a P/E ratio of 17.61, a P/E/G ratio of 0.93 and a beta of 2.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 2.72.

Interface (NASDAQ:TILE) last released its earnings results on Friday, August 2nd. The textile maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. The business had revenue of $346.60 million for the quarter, compared to the consensus estimate of $340.21 million. Interface had a net margin of 4.73% and a return on equity of 16.94%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Research analysts expect that Interface, Inc. will post 1.18 earnings per share for the current fiscal year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Friday, August 30th. Interface’s dividend payout ratio is presently 3.96%.

Insiders Place Their Bets

In related news, Director Daniel T. Hendrix sold 10,347 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $14.43, for a total value of $149,307.21. Following the completion of the sale, the director now owns 248,300 shares in the company, valued at approximately $3,582,969. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Daniel T. Hendrix sold 10,347 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $14.43, for a total value of $149,307.21. Following the completion of the sale, the director now directly owns 248,300 shares of the company’s stock, valued at $3,582,969. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $15.05, for a total value of $188,125.00. Following the sale, the director now directly owns 258,647 shares of the company’s stock, valued at approximately $3,892,637.35. The disclosure for this sale can be found here. Insiders sold a total of 138,358 shares of company stock worth $2,279,729 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TILE. First Eagle Investment Management LLC acquired a new position in Interface during the first quarter worth $2,027,000. SG Americas Securities LLC increased its holdings in shares of Interface by 1,195.5% during the 2nd quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock valued at $1,243,000 after acquiring an additional 78,113 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Interface by 182.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock worth $2,187,000 after purchasing an additional 83,932 shares during the last quarter. Access Investment Management LLC acquired a new stake in shares of Interface in the fourth quarter worth $2,024,000. Finally, Inspire Investing LLC acquired a new position in Interface during the 1st quarter worth $859,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Interface

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.