Caxton Associates LP Takes $248,000 Position in Interface, Inc. (NASDAQ:TILE)

Caxton Associates LP bought a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,927 shares of the textile maker’s stock, valued at approximately $248,000.

A number of other institutional investors also recently bought and sold shares of the stock. ProShare Advisors LLC boosted its stake in Interface by 7.4% during the first quarter. ProShare Advisors LLC now owns 11,576 shares of the textile maker’s stock worth $195,000 after buying an additional 794 shares during the period. First Hawaiian Bank boosted 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 buying an additional 1,353 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Interface by 13.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock worth $218,000 after buying an additional 1,770 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Interface by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,431 shares of the textile maker’s stock worth $916,000 after buying an additional 2,073 shares during the period. Finally, Range Financial Group LLC boosted its stake in Interface by 5.2% during the second 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 during the period. 98.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barrington Research reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Interface in a research note on Friday, September 20th. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.

Interface Stock Down 0.2 %

Shares of TILE opened at $18.40 on Friday. The firm has a market capitalization of $1.07 billion, a P/E ratio of 18.22, a P/E/G ratio of 0.97 and a beta of 1.98. Interface, Inc. has a 12-month low of $8.26 and a 12-month high of $19.45. The company has a current ratio of 2.76, a quick ratio of 1.45 and a debt-to-equity ratio of 0.84. The firm has a fifty day moving average price of $17.73 and a 200-day moving average price of $16.35.

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

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.01 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. Interface’s payout ratio is currently 3.96%.

Insider Activity at Interface

In related news, CFO Bruce Andrew Hausmann sold 55,000 shares of Interface stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total value of $935,000.00. Following the completion of the sale, the chief financial officer now directly owns 198,475 shares in the company, valued at $3,374,075. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Bruce Andrew Hausmann sold 55,000 shares of Interface stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total value of $935,000.00. Following the completion of the sale, the chief financial officer now directly owns 198,475 shares in the company, valued at $3,374,075. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel T. Hendrix sold 2,153 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $14.67, for a total transaction of $31,584.51. Following the completion of the transaction, the director now owns 246,147 shares of the company’s stock, valued at $3,610,976.49. The disclosure for this sale can be found here. Insiders sold 125,858 shares of company stock worth $2,091,604 over the last three months. 2.60% of the stock is owned by corporate insiders.

About Interface

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.