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Interface Inc (NASDAQ:TILE), a leader in the carpet and rug manufacturing industry, has seen a recent stock transaction by one of its directors, Daniel T. Hendrix. According to the latest filings, Hendrix has sold a total of $76,587 worth of shares in the company.
The transactions took place over two consecutive days. On July 25, Hendrix sold 1,400 shares at an average price of $17.51 each, and the following day, on July 26, he sold an additional 2,952 shares with prices ranging from $17.51 to $17.64. These sales reflect a weighted average sale price of $17.51 and $17.54, respectively, for each day's transactions.
Following these sales, Hendrix's direct holdings in Interface Inc have decreased, yet he still maintains a significant stake in the company. As per the filing, after the transactions, the director directly owns 209,295 shares. Additionally, the report disclosed indirect ownership of 35,072 shares held by a trust.
Investors and followers of Interface Inc may find these transactions noteworthy as they represent the latest insider activity within the company. The specifics of the sales, including the number of shares sold at each separate price within the stated range, can be provided by the reporting person upon request to Interface Inc or the Securities and Exchange Commission staff.
The disclosed transactions offer a glimpse into the trading behavior of one of Interface Inc's directors and may be of interest to current and potential shareholders monitoring the company's insider trading patterns.
InvestingPro Insights
Amidst the recent insider trading activity at Interface Inc (NASDAQ:TILE), the company's financial health and market performance remain a focus for investors. The InvestingPro data reveals a market capitalization of $997.12 million, suggesting a substantial presence in the carpet and rug manufacturing industry. With a P/E ratio of 16.03 for the last twelve months as of Q1 2024, the company is valued at a level that could attract investors looking for reasonably priced earnings potential.
The company's commitment to shareholder returns is evident, as highlighted by one of the InvestingPro Tips, which notes that Interface Inc has maintained dividend payments for 18 consecutive years. This consistency in rewarding shareholders may provide a sense of security for investors, particularly in volatile market conditions. Additionally, the stock has experienced a significant price uptick over the last six months, with a 39.26% total return, reflecting strong market confidence.
Investors may also be encouraged by the company's liquidity position, as another InvestingPro Tip points out that Interface Inc's liquid assets exceed its short-term obligations. This indicates a robust financial structure capable of weathering short-term economic fluctuations.
For those considering a deeper dive into Interface Inc's financials and market predictions, there are additional InvestingPro Tips available, offering nuanced insights into the company's performance and prospects. To explore these further, visit https://www.investing.com/pro/TILE and remember to use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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