Rhumbline Advisers Reduces Stock Position in Interface, Inc. (NASDAQ:TILE)

Rhumbline Advisers lessened its position in shares of Interface, Inc. (NASDAQ:TILE) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 202,741 shares of the textile maker’s stock after selling 673 shares during the quarter. Rhumbline Advisers owned 0.35% of Interface worth $2,976,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Interface in the second quarter worth about $32,000. Allspring Global Investments Holdings LLC acquired a new position in Interface in the 1st quarter worth about $57,000. GAMMA Investing LLC raised its holdings in Interface by 131.1% in the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock worth $66,000 after purchasing an additional 2,237 shares during the period. SG Americas Securities LLC acquired a new position in Interface in the 1st quarter worth about $110,000. Finally, Diversified Trust Co acquired a new position in Interface in the 2nd quarter worth about $154,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Transactions at Interface

In other news, Director Daniel T. Hendrix sold 3,555 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total transaction of $62,319.15. Following the completion of the transaction, the director now directly owns 191,147 shares in the company, valued at $3,350,806.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Daniel T. Hendrix sold 2,153 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $14.67, for a total value of $31,584.51. Following the sale, the director now directly owns 246,147 shares in the company, valued at $3,610,976.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel T. Hendrix sold 3,555 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total value of $62,319.15. Following the completion of the sale, the director now owns 191,147 shares in the company, valued at $3,350,806.91. The disclosure for this sale can be found here. Insiders sold a total of 125,858 shares of company stock worth $2,091,604 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Interface Trading Down 1.4 %

Shares of Interface stock opened at $18.76 on Wednesday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 0.94 and a beta of 1.98. Interface, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $19.25. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.45 and a current ratio of 2.76. The stock has a 50 day moving average of $17.34 and a 200 day moving average of $16.20.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.12. The company had revenue of $346.60 million during the quarter, compared to analyst estimates of $340.21 million. Interface had a return on equity of 18.42% and a net margin of 5.20%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, research analysts predict that Interface, Inc. will post 1.28 earnings per share for the current year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. Interface’s dividend payout ratio is currently 3.96%.

Analyst Ratings Changes

TILE has been the subject of a number of research analyst reports. Barrington Research reissued an “outperform” rating and set a $22.00 target price on shares of Interface in a report on Friday, August 2nd. StockNews.com raised Interface from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

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.