Intech Investment Management LLC Buys New Stake in Interface, Inc. (NASDAQ:TILE)

Intech Investment Management LLC bought a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the third quarter, Holdings Channel reports. The fund bought 18,752 shares of the textile maker’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in Interface by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 22,103 shares of the textile maker’s stock valued at $324,000 after purchasing an additional 1,368 shares during the period. KBC Group NV raised its position in shares of Interface by 70.7% in the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after acquiring an additional 1,438 shares during the period. New York State Teachers Retirement System raised its position in shares of Interface by 1.6% in the third quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock worth $2,188,000 after acquiring an additional 1,767 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Interface by 13.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock worth $218,000 after acquiring an additional 1,770 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Interface by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,431 shares of the textile maker’s stock worth $916,000 after acquiring an additional 2,073 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TILE. 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 upped their price objective on shares of Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st.

Insider Activity

In related news, CFO Bruce Andrew Hausmann sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total transaction of $765,000.00. Following the completion of the transaction, the chief financial officer now owns 168,475 shares of the company’s stock, valued at approximately $4,296,112.50. This trade represents a 15.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Stansfield Nigel sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total transaction of $482,400.00. Following the sale, the vice president now owns 144,355 shares in the company, valued at approximately $3,481,842.60. This trade represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Interface Stock Down 1.1 %

TILE opened at $26.29 on Wednesday. Interface, Inc. has a twelve month low of $10.21 and a twelve month high of $27.34. The company has a market cap of $1.53 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.29 and a beta of 2.09. 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 company has a 50-day moving average price of $21.73 and a 200 day moving average price of $18.33.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating 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 prior year, the company earned $0.28 EPS. Interface’s revenue was up 10.7% compared to the same quarter last year. Sell-side analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.01 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. Interface’s dividend payout ratio (DPR) is 2.80%.

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.