In a recent transaction, Daniel T. Hendrix, a director at Interface Inc (NASDAQ:TILE), the company known for its specialty in carpets and rugs, has sold a portion of his holdings in the company. The sale, which took place on July 23, 2024, involved 17,300 shares of common stock at an average price of $17.05 per share, resulting in a total sale value of approximately $294,965.
This transaction was executed in multiple parts, with share prices ranging from $16.95 to $17.15. Following the sale, Hendrix's direct ownership in Interface Inc stands at 213,647 shares. Additionally, he holds an indirect ownership of 35,072 shares through a trust.
Investors and shareholders can request detailed information about the exact number of shares sold at each price within the specified range from the company, Daniel Hendrix, or the Securities and Exchange Commission if needed.
Interface Inc, headquartered in Atlanta, Georgia, is a prominent player in the manufacturing sector, specifically known for its production of carpets and rugs. This transaction has been duly reported and the information is available for public review. Daniel Hendrix's current stake in the company, including both direct and indirect holdings, reflects his ongoing investment in Interface Inc's future.
InvestingPro Insights
Amid the recent insider trading activity at Interface Inc (NASDAQ:TILE), investors are keeping a close eye on the company's financial health and market performance. With a market capitalization of $974.4 million and a P/E ratio standing at 16.52, which adjusts to 15.69 when considering the last twelve months as of Q1 2024, Interface Inc presents a mixed financial picture. The company's PEG ratio during the same period is notably low at 0.02, suggesting potential for future earnings growth relative to its earnings multiple.
On the operational front, Interface Inc has demonstrated stability, maintaining a gross profit margin of 36.29% over the last twelve months as of Q1 2024. This is corroborated by a solid operating income margin of 9.23%, reflecting efficient management and a strong grasp on the costs associated with their carpet and rug production.
From an investor's perspective, Interface Inc's track record of dividend payments is noteworthy. An InvestingPro Tip highlights that the company has consistently paid dividends for 18 consecutive years, a testament to its commitment to returning value to shareholders. Additionally, the company's stock has experienced a substantial price uptick, with a 6-month total return of 39.78% and a 1-year total return of 82.65%, indicating robust investor confidence and market performance.
For those considering a deeper dive into Interface Inc's potential, InvestingPro offers detailed analytics and additional InvestingPro Tips. Currently, there are 9 more tips available, which could further inform investment decisions. Interested investors can take advantage of the special offer using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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