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

Interface, Inc. (NASDAQ:TILE) declared a quarterly dividend on Tuesday, March 11th, Wall Street Journal reports. Stockholders of record on Friday, March 28th will be given a dividend of 0.01 per share by the textile maker on Friday, April 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, March 28th.

Interface has a dividend payout ratio of 2.2% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

TILE opened at $20.19 on Wednesday. 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 company’s 50-day moving average price is $21.74 and its 200 day moving average price is $22.12. Interface has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. During the same period in the prior year, the firm earned $0.41 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Interface will post 1.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TILE has been the subject of several recent research reports. Barrington Research restated an “outperform” rating and set a $30.00 price target on shares of Interface in a research report on Tuesday, February 25th. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th.

Insider Activity at Interface

In other news, Director Daniel T. Hendrix sold 7,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total value of $149,625.00. Following the completion of the transaction, the director now owns 96,147 shares of the company’s stock, valued at approximately $1,918,132.65. This represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 32,500 shares of company stock worth $748,125 in the last three months. 2.60% of the stock is owned by company insiders.

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.