Barclays PLC Raises Stock Position in Interface, Inc. (NASDAQ:TILE)

Barclays PLC grew its holdings in Interface, Inc. (NASDAQ:TILE) by 688.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,987 shares of the textile maker’s stock after acquiring an additional 224,395 shares during the period. Barclays PLC owned about 0.44% of Interface worth $4,873,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Interface in the 2nd quarter worth approximately $32,000. Quarry LP lifted its holdings in shares of Interface by 499.5% in the third quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock worth $47,000 after buying an additional 2,063 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Interface by 33.7% during the third quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock worth $64,000 after acquiring an additional 856 shares during the last quarter. KBC Group NV grew its stake in Interface by 70.7% during the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $66,000 after acquiring an additional 1,438 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Interface in the 3rd quarter valued at $70,000. Institutional investors own 98.34% of the company’s stock.

Analysts Set New Price Targets

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

Interface Stock Down 0.5 %

Shares of NASDAQ TILE opened at $24.53 on Friday. 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. The firm’s 50-day moving average price is $23.64 and its 200-day moving average price is $19.21. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 1.29 and a beta of 2.09.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. The business had revenue of $344.30 million for the quarter, compared to the consensus estimate of $336.39 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 earnings per share. On average, equities research analysts anticipate that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.16%. Interface’s dividend payout ratio is presently 2.80%.

Insider Activity at Interface

In related news, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total value of $765,000.00. Following the completion of the sale, the chief financial officer now owns 168,475 shares in the company, valued at approximately $4,296,112.50. The trade was a 15.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,175 shares of company stock worth $2,119,987. 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.