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. Shareholders of record on Friday, November 29th will be given a dividend of 0.01 per share by the textile maker on Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a 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% annually over the last three years. Interface has a payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 during midday trading on Monday, hitting $25.02. 255,898 shares of the company’s stock were exchanged, compared to its average volume of 455,617. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface has a twelve month low of $9.87 and a twelve month high of $26.11. The company has a market cap of $1.46 billion, a PE ratio of 17.48, a P/E/G ratio of 1.22 and a beta of 1.97. The firm’s fifty day simple moving average is $19.93 and its 200-day simple moving average is $17.50.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on TILE. Barrington Research lifted their target price on Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Insider Transactions at Interface

In other Interface news, 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 transaction of $62,319.15. Following the completion of the sale, the director now owns 191,147 shares of the company’s stock, valued at approximately $3,350,806.91. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total value of $482,400.00. Following the sale, the vice president now directly owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. This trade represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Interface Company Profile

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.