DekaBank Deutsche Girozentrale Trims Stock Holdings in Interface, Inc. (NASDAQ:TILE)

DekaBank Deutsche Girozentrale reduced its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 33.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,169 shares of the textile maker’s stock after selling 2,129 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Interface were worth $76,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of TILE. Vanguard Group Inc. lifted its position in shares of Interface by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,298,736 shares of the textile maker’s stock worth $89,125,000 after acquiring an additional 43,184 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Interface by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock valued at $42,469,000 after purchasing an additional 31,224 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Interface by 10.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after purchasing an additional 247,350 shares in the last quarter. American Century Companies Inc. boosted its stake in Interface by 22.3% in the 2nd quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock worth $22,951,000 after purchasing an additional 285,353 shares during the period. Finally, Meros Investment Management LP grew its holdings in Interface by 1.5% during the 2nd quarter. Meros Investment Management LP now owns 698,305 shares of the textile maker’s stock valued at $10,251,000 after buying an additional 10,616 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TILE shares. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Barrington Research raised their price target on shares of Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday.

Interface Stock Performance

Shares of TILE opened at $23.24 on Monday. 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 stock has a 50-day moving average price of $18.64 and a 200-day moving average price of $16.83. The company has a market cap of $1.35 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 0.91 and a beta of 1.97. Interface, Inc. has a 12-month low of $9.04 and a 12-month high of $23.46.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. The business had revenue of $344.30 million during the quarter, compared to analysts’ expectations of $336.39 million. Interface had a net margin of 5.20% and a return on equity of 18.42%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. As a group, equities analysts forecast that Interface, Inc. will post 1.28 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.17%. Interface’s payout ratio is 3.57%.

Insider Activity

In other news, Director Daniel T. Hendrix sold 3,555 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total value of $62,319.15. Following the transaction, the director now owns 191,147 shares in the company, valued at approximately $3,350,806.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Stansfield Nigel sold 17,500 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $16.44, for a total transaction of $287,700.00. Following the completion of the transaction, the vice president now directly owns 164,355 shares of the company’s stock, valued at approximately $2,701,996.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel T. Hendrix sold 3,555 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total transaction of $62,319.15. Following the sale, the director now owns 191,147 shares of the company’s stock, valued at approximately $3,350,806.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,055 shares of company stock valued at $1,285,019. Corporate insiders own 2.60% of the company’s stock.

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.