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

Interface, Inc. (NASDAQ:TILE) declared a quarterly dividend on Thursday, November 14th,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 0.15%. The ex-dividend date of this dividend is Friday, November 29th.

Interface has decreased its dividend 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. 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 Down 1.1 %

TILE opened at $26.52 on Thursday. 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 stock has a market cap of $1.55 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.29 and a beta of 1.97. Interface has a twelve month low of $9.87 and a twelve month high of $27.34. The company’s 50-day moving average price is $21.11 and its two-hundred day moving average price is $18.02.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, VP Stansfield Nigel sold 20,000 shares of the company’s 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 completion of the transaction, the vice president now directly owns 144,355 shares in the company, valued at approximately $3,481,842.60. The trade was 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 accessible 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 transaction, the chief financial officer now owns 168,475 shares in the company, valued at $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. 2.60% of the stock is currently owned by insiders.

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.