Interface, Inc. (NASDAQ:TILE) Shares Acquired by State Street Corp

State Street Corp increased its position in shares of Interface, Inc. (NASDAQ:TILE) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,232,327 shares of the textile maker’s stock after buying an additional 13,686 shares during the period. State Street Corp’s holdings in Interface were worth $42,347,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TILE. Innealta Capital LLC purchased a new stake in shares of Interface during the second quarter worth about $32,000. Quarry LP boosted its holdings in Interface by 499.5% in the third quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock valued at $47,000 after purchasing an additional 2,063 shares during the last quarter. KBC Group NV grew its stake in Interface by 70.7% during the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 1,438 shares in the last quarter. nVerses Capital LLC purchased a new stake in Interface during the 3rd quarter worth approximately $70,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Interface in the 2nd quarter valued at approximately $91,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Activity

In related news, Director Daniel T. Hendrix sold 18,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total transaction of $473,940.00. Following the completion of the transaction, the director now directly owns 153,147 shares in the company, valued at $4,032,360.51. This represents a 10.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were 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 $3,481,842.60. The trade was a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,175 shares of company stock valued at $2,119,987. 2.60% of the stock is currently owned by insiders.

Interface Stock Performance

TILE stock opened at $24.65 on Friday. The firm has a market cap of $1.44 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.29 and a beta of 2.09. The stock’s 50 day simple moving average is $23.53 and its 200 day simple moving average is $19.15. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Interface, Inc. has a 12-month low of $11.48 and a 12-month high of $27.34.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $336.39 million. During the same period last year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts predict that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Friday, November 29th. Interface’s dividend payout ratio (DPR) is presently 2.80%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TILE shares. Barrington Research lifted their price target on shares of Interface from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th.

Interface 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.