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

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Interface, Inc. (NASDAQ:TILE - Get Rating) announced a quarterly dividend on Tuesday, November 15th, RTT News reports. Stockholders of record on Friday, December 2nd will be paid a dividend of 0.01 per share by the textile maker on Friday, December 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.36%.

Interface has decreased its dividend by an average of 46.4% annually over the last three years. Interface has a dividend payout ratio of 2.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Interface to earn $1.40 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 2.9%.

Interface Price Performance

NASDAQ:TILE traded up $0.13 on Tuesday, hitting $11.00. The company had a trading volume of 3,598 shares, compared to its average volume of 197,814. The firm has a 50 day moving average of $10.26 and a two-hundred day moving average of $12.18. The stock has a market capitalization of $654.17 million, a price-to-earnings ratio of 9.89 and a beta of 1.87. Interface has a 52 week low of $8.90 and a 52 week high of $17.19. The company has a current ratio of 2.54, a quick ratio of 1.19 and a debt-to-equity ratio of 1.58.

Hedge Funds Weigh In On Interface

Several large investors have recently modified their holdings of the business. Credit Suisse AG grew its stake in Interface by 7.2% during the third quarter. Credit Suisse AG now owns 49,942 shares of the textile maker's stock valued at $449,000 after acquiring an additional 3,369 shares in the last quarter. MetLife Investment Management LLC grew its stake in Interface by 54.9% in the 1st quarter. MetLife Investment Management LLC now owns 31,795 shares of the textile maker's stock worth $431,000 after buying an additional 11,267 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Interface in the 1st quarter worth approximately $347,000. UBS Group AG grew its stake in Interface by 20.6% in the 3rd quarter. UBS Group AG now owns 33,807 shares of the textile maker's stock worth $303,000 after buying an additional 5,764 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Interface by 131.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 27,574 shares of the textile maker's stock worth $248,000 after buying an additional 15,644 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial reduced their price target on shares of Interface from $19.00 to $13.00 in a report on Tuesday, November 8th. StockNews.com cut shares of Interface from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 8th. Finally, TheStreet cut shares of Interface from a "b-" rating to a "c+" rating in a report on Wednesday, September 21st.

About Interface

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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.