Franklin Resources Inc. Boosts Position in Interface, Inc. (NASDAQ:TILE)

Franklin Resources Inc. increased its stake in Interface, Inc. (NASDAQ:TILE) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,576 shares of the textile maker’s stock after buying an additional 3,202 shares during the period. Franklin Resources Inc.’s holdings in Interface were worth $1,735,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TILE. Innealta Capital LLC purchased a new position in Interface during the 2nd quarter valued at about $32,000. Quarry LP increased its position in Interface by 499.5% during the 3rd 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 period. National Bank of Canada FI increased its position in Interface by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 856 shares during the period. KBC Group NV increased its position 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 during the period. Finally, nVerses Capital LLC purchased a new position in Interface during the 3rd quarter valued at about $70,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TILE. Barrington Research raised their target price on shares of Interface from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th.

Interface Stock Down 1.8 %

NASDAQ:TILE opened at $24.97 on Friday. Interface, Inc. has a fifty-two week low of $11.48 and a fifty-two week high of $27.34. The stock has a market capitalization of $1.46 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.29 and a beta of 2.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The company’s 50-day simple moving average is $24.19 and its 200-day simple moving average is $19.56.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share 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 analysts’ expectations of $336.39 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. On average, equities analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

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

Insider Buying and Selling 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 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 of the company’s stock, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David B. Foshee sold 15,175 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total transaction of $398,647.25. Following the completion of the sale, the vice president now directly owns 202,398 shares of the company’s stock, valued at approximately $5,316,995.46. The trade was a 6.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,175 shares of company stock worth $2,119,987. Company insiders own 2.60% of the company’s stock.

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.