Los Angeles Capital Management LLC Sells 7,200 Shares of Interface, Inc. (NASDAQ:TILE)

Los Angeles Capital Management LLC reduced its position in shares of Interface, Inc. (NASDAQ:TILE) by 10.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,698 shares of the textile maker’s stock after selling 7,200 shares during the period. Los Angeles Capital Management LLC owned about 0.11% of Interface worth $1,189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TILE. Innealta Capital LLC bought a new position in shares of Interface in the second quarter valued at approximately $32,000. Allspring Global Investments Holdings LLC acquired a new stake in Interface during the 1st quarter valued at $57,000. nVerses Capital LLC bought a new position in Interface in the 3rd quarter valued at $70,000. Farther Finance Advisors LLC boosted its stake in Interface by 1,348.0% in the third quarter. Farther Finance Advisors LLC now owns 6,241 shares of the textile maker’s stock worth $118,000 after purchasing an additional 5,810 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Interface during the second quarter worth $91,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Stansfield Nigel sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total value of $482,400.00. Following the completion of the sale, the vice president now owns 144,355 shares in the company, valued at approximately $3,481,842.60. This represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel T. Hendrix sold 3,555 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was 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 1.83 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Interface Price Performance

Interface stock opened at $25.37 on Friday. The business’s 50-day simple moving average is $19.65 and its 200 day simple moving average is $17.35. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 1.25 and a beta of 1.97. Interface, Inc. has a 12-month low of $9.78 and a 12-month high of $26.11.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TILE shares. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Barrington Research increased their price target on shares of Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

Interface Company 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.