New York State Teachers Retirement System Grows Stake in Interface, Inc. (NASDAQ:TILE)

New York State Teachers Retirement System grew its position in Interface, Inc. (NASDAQ:TILE) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,339 shares of the textile maker’s stock after buying an additional 1,767 shares during the quarter. New York State Teachers Retirement System owned 0.20% of Interface worth $2,188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Interface in the second quarter worth about $32,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Interface in the 1st quarter valued at about $57,000. nVerses Capital LLC purchased a new stake in shares of Interface in the 3rd quarter worth approximately $70,000. DekaBank Deutsche Girozentrale bought a new position in shares of Interface during the second quarter valued at approximately $91,000. Finally, Point72 DIFC Ltd purchased a new position in Interface during the second quarter valued at approximately $106,000. Institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TILE. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday. Barrington Research raised their price objective on Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

Insider Activity

In other Interface news, Director Daniel T. Hendrix sold 3,555 shares of Interface 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 completion of the sale, the director now owns 191,147 shares of the company’s stock, valued at approximately $3,350,806.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Daniel T. Hendrix sold 3,555 shares of the stock in a transaction 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 sale, the director now owns 191,147 shares in the company, valued at $3,350,806.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce Andrew Hausmann sold 55,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total transaction of $935,000.00. Following the transaction, the chief financial officer now owns 198,475 shares of the company’s stock, valued at $3,374,075. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,555 shares of company stock valued at $1,479,719 over the last ninety days. 2.60% of the stock is currently owned by insiders.

Interface Stock Down 0.9 %

Interface stock opened at $24.50 on Friday. Interface, Inc. has a 1-year low of $9.04 and a 1-year high of $24.97. The business has a fifty day moving average price of $19.09 and a 200-day moving average price of $17.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.14 and a beta of 1.97.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. The business had revenue of $344.30 million for the quarter, compared to analyst estimates of $336.39 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Equities research analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, August 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. Interface’s payout ratio is currently 2.80%.

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.