Interface, Inc. (NASDAQ:TILE – Get Rating) stock price rose 3.4% in Wednesday’s trading session following the company’s dividend announcement. The stock traded as high as $14.26 and last traded at $14.24. Approximately 1,437 shares were traded during trading, down 99% from the average daily volume of 219,473 shares. The stock had previously closed at $13.77. The newly announced dividend which will be paid on Friday, June 17. Shareholders of record on Friday, June 3 will receive a dividend of $0.01 per share. This represents a dividend of $0.04 on an annualized basis and a dividend yield of 0.28%. Interface’s payout ratio is 3.85%.
TILE has been the subject of a number of recent analyst reports. Raymond James cut his price target on Interface shares from $19.00 to $17.00 and set an “outperform” rating on the stock in a Wednesday, March 2 report. Zacks Investment Research upgraded Interface shares from a “hold” rating to a “buy” rating and set a target price of $14.00 on the stock in a Wednesday, May 11 report. Finally, StockNews.com began covering Interface shares in a report on Thursday, March 31. They issued a “Strong Buy” rating on the stock.
The company’s fifty-day moving average is $13.16 and its 200-day moving average is $14.22. The company has a market capitalization of $856.60 million, a PE ratio of 13.24 and a beta of 1.79. The company has a quick ratio of 1.08, a current ratio of 2.37 and a debt ratio of 1.38.
Interface (NASDAQ:TILE – Get Rating) last released its quarterly results on Friday, May 6. The textile maker reported earnings per share of $0.28 for the quarter, beating the consensus estimate of $0.16 by $0.12. The company posted revenue of $288.00 million for the quarter, compared to $282.97 million expected by analysts. Interface had a net margin of 4.99% and a return on equity of 22.58%. The company’s revenue increased by 13.7% compared to the same quarter last year. In the same quarter last year, the company posted EPS of $0.17. Equity research analysts expect Interface, Inc. to post EPS of 1.33 for the current fiscal year.
Several institutional investors have recently changed their holdings in TILE. Barrow Hanley Mewhinney & Strauss LLC increased its position in Interface shares by 49.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,854,133 shares of the textile maker valued at $61,474,000 after purchasing an additional 1,270,697 shares during the period. Yousif Capital Management LLC purchased a new stake in Interface stock during Q4 for $852,000. Schroder Investment Management Group increased its position in Interface shares by 22.9% during the third quarter. Schroder Investment Management Group now owns 1,182,342 shares of the textile maker valued at $17,912,000 after purchasing an additional 220,595 shares during the period. Shelton Capital Management increased its position in Interface shares by 30.3% during the third quarter. Shelton Capital Management now owns 103,184 shares of the textile maker valued at $1,563,000 after buying an additional 24,000 shares during the period. Finally, Achmea Investment Management BV purchased a new equity stake in Interface during Q3 for $1,251,000. Institutional investors and hedge funds own 96.30% of the company’s shares.
Company Profile (NASDAQ: TILE)
Interface, Inc, a modular flooring company, designs, produces and sells modular carpet products primarily in America, Europe and Asia-Pacific. The company offers modular carpets under the Interface and FLOR brands; carpet tiles under the name GlasBacRE for use in commercial interiors, including offices, healthcare facilities, airports, educational and other facilities, hospitality and retail spaces, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.
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