Interface, Inc. (NASDAQ:TILE - Get Rating) declared a quarterly dividend on Tuesday, August 16th, RTT News reports. Shareholders of record on Friday, September 2nd will be given a dividend of 0.10 per share by the textile maker on Friday, September 16th. This represents a $0.40 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Interface's previous quarterly dividend of $0.01.
Interface has decreased its dividend by an average of 46.4% annually over the last three years. Interface has a dividend payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Interface to earn $1.66 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 2.4%.
Interface Stock Up 0.7 %
Shares of NASDAQ TILE traded up $0.09 during mid-day trading on Tuesday, hitting $13.34. The company had a trading volume of 9,745 shares, compared to its average volume of 237,503. Interface has a one year low of $11.87 and a one year high of $18.03. The company has a market capitalization of $793.33 million, a PE ratio of 12.59 and a beta of 1.77. The company has a current ratio of 2.51, a quick ratio of 1.24 and a debt-to-equity ratio of 1.53. The firm has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $13.37.
Interface (NASDAQ:TILE - Get Rating) last announced its quarterly earnings data on Friday, August 5th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.04. The company had revenue of $346.60 million for the quarter, compared to analysts' expectations of $357.70 million. Interface had a return on equity of 23.39% and a net margin of 4.89%. The business's revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 EPS. On average, equities analysts expect that Interface will post 1.21 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its position in Interface by 18.4% during the 1st quarter. Invesco Ltd. now owns 1,378,806 shares of the textile maker's stock valued at $18,711,000 after purchasing an additional 214,547 shares during the period. Millennium Management LLC lifted its stake in shares of Interface by 73.7% in the 2nd quarter. Millennium Management LLC now owns 345,648 shares of the textile maker's stock valued at $4,334,000 after purchasing an additional 146,634 shares during the period. Citadel Advisors LLC boosted its position in shares of Interface by 2,730.4% during the 2nd quarter. Citadel Advisors LLC now owns 68,391 shares of the textile maker's stock valued at $858,000 after purchasing an additional 70,991 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Interface by 62.3% during the 2nd quarter. Prudential Financial Inc. now owns 169,934 shares of the textile maker's stock valued at $2,131,000 after acquiring an additional 65,200 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Interface by 4.0% during the first quarter. Wellington Management Group LLP now owns 1,476,394 shares of the textile maker's stock valued at $20,035,000 after purchasing an additional 57,309 shares during the period. Institutional investors own 96.30% of the company's stock.
Analyst Ratings Changes
Separately, TheStreet upgraded shares of Interface from a "c+" rating to a "b-" rating in a research note on Friday, August 5th.
About Interface
(Get Rating)Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR brand names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brand names; and luxury vinyl tile products.
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Interface, Inc. (NASDAQ:TILE) Plans Quarterly Dividend of $0.10 - MarketBeat
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