Interface, Inc. (NASDAQ:TILE) to Issue $0.02 Quarterly Dividend

Interface, Inc. (NASDAQ:TILE) declared a quarterly dividend on Tuesday, November 11th. Investors of record on Friday, November 28th will be given a dividend of 0.02 per share by the textile maker on Friday, December 12th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, November 28th.

Interface has decreased its dividend by an average of 0.3%annually over the last three years. Interface has a dividend payout ratio of 4.5% 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 $0.08 annual dividend with an expected future payout ratio of 5.2%.

Interface Price Performance

TILE traded up $0.37 during trading on Wednesday, reaching $26.70. 168,641 shares of the company traded hands, compared to its average volume of 454,933. The company has a market cap of $1.56 billion, a P/E ratio of 16.48, a PEG ratio of 1.04 and a beta of 2.07. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.59 and a current ratio of 2.88. Interface has a 12-month low of $17.24 and a 12-month high of $30.20. The firm has a fifty day simple moving average of $27.61 and a 200 day simple moving average of $23.96.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, October 31st. The textile maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.15. The company had revenue of $364.53 million for the quarter, compared to the consensus estimate of $358.19 million. Interface had a return on equity of 18.97% and a net margin of 7.08%.The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 earnings per share. Interface has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Interface will post 1.37 EPS for the current year.

Insider Activity

In other Interface news, CFO Bruce Andrew Hausmann sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $26.95, for a total value of $673,750.00. Following the completion of the sale, the chief financial officer owned 145,403 shares of the company’s stock, valued at $3,918,610.85. This trade represents a 14.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Poppens sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $26.14, for a total value of $130,700.00. Following the transaction, the vice president owned 124,616 shares of the company’s stock, valued at $3,257,462.24. This trade represents a 3.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Interface

Large investors have recently bought and sold shares of the business. IFP Advisors Inc lifted its position in shares of Interface by 2,695.2% during the second quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,132 shares during the last quarter. TD Private Client Wealth LLC purchased a new position in Interface in the 3rd quarter worth about $32,000. Blue Trust Inc. bought a new stake in Interface during the 3rd quarter valued at about $34,000. EverSource Wealth Advisors LLC purchased a new stake in Interface in the 2nd quarter valued at about $35,000. Finally, Richardson Financial Services Inc. grew its stake in Interface by 166.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,569 shares of the textile maker’s stock worth $45,000 after acquiring an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 98.34% 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.