Interface, Inc. (NASDAQ:TILE) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 45.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 174,853 shares of the textile maker’s stock after purchasing an additional 54,775 shares during the period. Acadian Asset Management LLC owned approximately 0.30% of Interface worth $2,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Interface during the second quarter valued at approximately $32,000. Allspring Global Investments Holdings LLC acquired a new stake in Interface during the first quarter valued at approximately $57,000. GAMMA Investing LLC lifted its position in shares of Interface by 131.1% in the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock valued at $66,000 after acquiring an additional 2,237 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Interface in the 1st quarter valued at approximately $110,000. Finally, Diversified Trust Co purchased a new stake in shares of Interface in the 2nd quarter valued at approximately $154,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TILE has been the subject of several research analyst reports. Barrington Research restated an “outperform” rating and issued a $22.00 price target on shares of Interface in a research report on Friday, August 2nd. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

Insiders Place Their Bets

In other news, Director Daniel T. Hendrix sold 3,555 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total transaction of $62,319.15. Following the transaction, the director now owns 191,147 shares in the company, valued at approximately $3,350,806.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Bruce Andrew Hausmann sold 55,000 shares of Interface stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total value of $935,000.00. Following the transaction, the chief financial officer now owns 198,475 shares in the company, valued at approximately $3,374,075. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel T. Hendrix sold 3,555 shares of Interface stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total transaction of $62,319.15. Following the completion of the transaction, the director now owns 191,147 shares in the company, valued at approximately $3,350,806.91. The disclosure for this sale can be found here. Insiders sold a total of 125,858 shares of company stock worth $2,091,604 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Interface Stock Up 3.6 %

Shares of NASDAQ:TILE opened at $18.87 on Friday. Interface, Inc. has a 52 week low of $8.26 and a 52 week high of $19.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.45 and a current ratio of 2.76. The company has a market cap of $1.10 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 0.94 and a beta of 1.98. The firm has a 50 day simple moving average of $17.16 and a 200 day simple moving average of $16.15.

Interface (NASDAQ:TILE) last released its earnings results on Friday, August 2nd. The textile maker reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. Interface had a net margin of 5.20% and a return on equity of 18.42%. The company had revenue of $346.60 million during the quarter, compared to the consensus estimate of $340.21 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Interface, Inc. will post 1.28 earnings per share for the current year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.01 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. Interface’s payout ratio is 3.96%.

Interface Profile

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. 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; 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.