Interface, Inc. (NASDAQ:TILE) Declares Quarterly Dividend of $0.01

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Monday, November 18th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.01 per share by the textile maker on Friday, December 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Friday, November 29th.

Interface has decreased its dividend payment by an average of 25.1% per year over the last three years. Interface has a payout ratio of 2.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Interface to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.6%.

Interface Stock Up 0.1 %

Shares of NASDAQ TILE traded up $0.03 on Monday, hitting $25.02. The company had a trading volume of 255,898 shares, compared to its average volume of 455,617. Interface has a 12-month low of $9.87 and a 12-month high of $26.11. The business has a 50 day moving average of $19.93 and a two-hundred day moving average of $17.50. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $1.46 billion, a P/E ratio of 17.48, a PEG ratio of 1.22 and a beta of 1.97.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. The business had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. As a group, equities research analysts forecast that Interface will post 1.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Interface

In related news, VP Stansfield Nigel sold 20,000 shares of Interface stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total value of $482,400.00. Following the completion of the sale, the vice president now directly owns 144,355 shares in the company, valued at $3,481,842.60. This trade represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel T. Hendrix sold 3,555 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total value of $62,319.15. Following the transaction, the director now owns 191,147 shares of the company’s stock, valued at $3,350,806.91. The trade was a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

TILE has been the topic of a number of analyst reports. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barrington Research raised their price objective on shares of Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

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.