Interface, Inc. (TILE) to Issue Quarterly Dividend of $0.01 on December 13th

Interface, Inc. (NASDAQ:TILE) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 0.15%. 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 dividend payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

NASDAQ TILE traded up $0.11 on Wednesday, reaching $26.93. 11,835 shares of the company’s stock traded hands, compared to its average volume of 453,311. Interface has a 12 month low of $9.87 and a 12 month high of $27.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The stock has a 50-day simple moving average of $20.96 and a 200 day simple moving average of $17.96. The stock has a market cap of $1.57 billion, a PE ratio of 18.76, a P/E/G ratio of 1.29 and a beta of 1.97.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barrington Research raised their target price on shares of Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Insider Activity

In other news, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total transaction of $482,400.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total value of $765,000.00. Following the transaction, the chief financial officer now owns 168,475 shares of the company’s stock, valued at $4,296,112.50. The trade was a 15.12 % 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.

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.