Interface, Inc. (TILE) to Issue Quarterly Dividend of $0.01 on April 11th

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Tuesday, March 11th, Wall Street Journal reports. Shareholders 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 yield of 0.20%. The ex-dividend date of this dividend is Friday, March 28th.

Interface has a dividend payout ratio of 2.2% meaning 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 Stock Performance

NASDAQ:TILE opened at $20.19 on Wednesday. The firm’s fifty day simple moving average is $21.74 and its 200 day simple moving average is $22.12. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Interface has a twelve month low of $14.13 and a twelve month high of $27.34. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.96 and a beta of 2.18.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 EPS 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 company had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that Interface will post 1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total value of $297,250.00. Following the completion of the sale, the director now owns 103,647 shares in the company, valued at approximately $2,464,725.66. The trade was a 10.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 32,500 shares of company stock worth $748,125 in the last three months. 2.60% of the stock is 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.