Interface, Inc. (TILE) To Go Ex-Dividend on November 30th

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Tuesday, November 14th, Zacks reports. Stockholders of record on Friday, December 1st will be paid a dividend of 0.01 per share by the textile maker on Friday, December 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, November 30th.

Interface has decreased its dividend by an average of 46.4% annually over the last three years. Interface has a dividend payout ratio of 4.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Interface to earn $0.77 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 5.2%.

Interface Trading Up 1.4 %

NASDAQ:TILE opened at $10.06 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.41 and a current ratio of 2.79. The company has a market capitalization of $584.59 million, a P/E ratio of 1,006.00 and a beta of 1.87. The stock’s 50 day moving average price is $9.49 and its 200 day moving average price is $8.98. Interface has a 52 week low of $6.51 and a 52 week high of $12.29.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, November 3rd. The textile maker reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Interface had a net margin of 0.03% and a return on equity of 14.08%. The business had revenue of $311.00 million for the quarter, compared to the consensus estimate of $324.59 million. During the same quarter last year, the firm earned $0.30 EPS. Interface’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, research analysts forecast that Interface will post 0.8 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on TILE shares. Truist Financial boosted their price target on Interface from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, August 7th. StockNews.com raised Interface from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 6th.

Institutional Trading of Interface

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Interface by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 611,562 shares of the textile maker’s stock worth $8,299,000 after acquiring an additional 2,333 shares during the last quarter. Citigroup Inc. lifted its position in shares of Interface by 12.7% during the 1st quarter. Citigroup Inc. now owns 51,057 shares of the textile maker’s stock worth $693,000 after purchasing an additional 5,748 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Interface by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 31,795 shares of the textile maker’s stock valued at $431,000 after purchasing an additional 11,267 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Interface by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,911 shares of the textile maker’s stock valued at $691,000 after buying an additional 6,277 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Interface by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,469,657 shares of the textile maker’s stock worth $33,513,000 after buying an additional 14,962 shares during the last quarter. 90.29% of the stock is owned by institutional investors.

Interface Company Profile

Interface, Inc designs, produces, and sells modular carpet products primarily in the United States and internationally. 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 and vinyl sheet under the Interface brand; 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.