First Eagle Investment Management LLC Has $2.59 Million Stake in Interface, Inc. (NASDAQ:TILE)

First Eagle Investment Management LLC boosted its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 46.5% during the second quarter, Holdings Channel reports. The institutional investor owned 176,617 shares of the textile maker’s stock after acquiring an additional 56,093 shares during the quarter. First Eagle Investment Management LLC’s holdings in Interface were worth $2,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC boosted its position in shares of Interface by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,576 shares of the textile maker’s stock valued at $195,000 after acquiring an additional 794 shares in the last quarter. First Hawaiian Bank lifted its stake in Interface by 3.8% during the first quarter. First Hawaiian Bank now owns 36,890 shares of the textile maker’s stock worth $620,000 after purchasing an additional 1,353 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Interface by 13.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock valued at $218,000 after purchasing an additional 1,770 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Interface by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,431 shares of the textile maker’s stock valued at $916,000 after purchasing an additional 2,073 shares during the period. Finally, Range Financial Group LLC raised its holdings in shares of Interface by 5.2% in the 2nd quarter. Range Financial Group LLC now owns 42,933 shares of the textile maker’s stock worth $630,000 after buying an additional 2,118 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Interface Stock Performance

NASDAQ:TILE opened at $18.97 on Friday. The stock has a market capitalization of $1.10 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 0.94 and a beta of 1.98. The company has a current ratio of 2.76, a quick ratio of 1.45 and a debt-to-equity ratio of 0.84. Interface, Inc. has a 1 year low of $8.26 and a 1 year high of $19.45. The firm has a 50 day moving average of $17.57 and a 200-day moving average of $16.27.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.12. The firm had revenue of $346.60 million during the quarter, compared to the consensus estimate of $340.21 million. Interface had a return on equity of 18.42% and a net margin of 5.20%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, sell-side analysts anticipate that Interface, Inc. will post 1.28 EPS for the current fiscal 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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Friday, August 30th. Interface’s dividend payout ratio is presently 3.96%.

Insider Transactions at Interface

In related news, Director Daniel T. Hendrix sold 10,347 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $14.43, for a total value of $149,307.21. Following the completion of the sale, the director now owns 248,300 shares of the company’s stock, valued at $3,582,969. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Stansfield Nigel sold 17,500 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $16.44, for a total value of $287,700.00. Following the transaction, the vice president now owns 164,355 shares of the company’s stock, valued at approximately $2,701,996.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel T. Hendrix sold 10,347 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $14.43, for a total transaction of $149,307.21. Following the sale, the director now directly owns 248,300 shares of the company’s stock, valued at $3,582,969. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,858 shares of company stock worth $2,091,604. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com raised Interface from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th. Barrington Research restated an “outperform” rating and issued a $22.00 target price on shares of Interface in a research note on Friday.

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.