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

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders 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 dividend yield of 0.15%. The ex-dividend date 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% 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 Trading Up 0.8 %

TILE opened at $26.82 on Wednesday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.29 and a beta of 1.97. Interface has a one year low of $9.87 and a one year high of $27.06. The business has a 50 day simple moving average of $20.96 and a two-hundred day simple moving average of $17.96. 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 (NASDAQ:TILE) last announced its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. The company had revenue of $344.30 million during the quarter, compared to analyst estimates of $336.39 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. Analysts predict that Interface will post 1.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TILE. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barrington Research increased their target price on Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st.

Insiders Place Their Bets

In other Interface news, VP Stansfield Nigel sold 20,000 shares of Interface stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total value of $482,400.00. Following the transaction, the vice president now directly owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $25.50, for a total value of $765,000.00. Following the completion of the sale, the chief financial officer now owns 168,475 shares of the company’s stock, valued at approximately $4,296,112.50. This trade represents 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.

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.