Pacer Advisors Inc. Sells 235,222 Shares of Interface, Inc. (NASDAQ:TILE)

Pacer Advisors Inc. lessened its stake in Interface, Inc. (NASDAQ:TILE) by 8.9% in the second quarter, Holdings Channel reports. The firm owned 2,413,201 shares of the textile maker’s stock after selling 235,222 shares during the quarter. Pacer Advisors Inc.’s holdings in Interface were worth $35,426,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TILE. Innealta Capital LLC bought a new position in Interface in the 2nd quarter valued at approximately $32,000. Allspring Global Investments Holdings LLC acquired a new stake in Interface during the 1st quarter worth about $57,000. GAMMA Investing LLC boosted its holdings in shares of Interface by 131.1% during the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock worth $66,000 after buying an additional 2,237 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Interface in the 2nd quarter valued at about $91,000. Finally, SG Americas Securities LLC bought a new position in shares of Interface in the 1st quarter worth $110,000. 98.34% of the stock is owned by institutional investors.

Interface Stock Performance

Shares of TILE opened at $18.97 on Friday. The company has a market cap of $1.10 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 0.94 and a beta of 1.98. The company has a current ratio of 2.76, a quick ratio of 1.45 and a debt-to-equity ratio of 0.84. Interface, Inc. has a 12-month low of $8.26 and a 12-month high of $19.45. The stock has a 50-day moving average price of $17.57 and a 200-day moving average price of $16.27.

Interface (NASDAQ:TILE) last released its earnings results on Friday, August 2nd. The textile maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.28 by $0.12. Interface had a net margin of 5.20% and a return on equity of 18.42%. The company had revenue of $346.60 million for the quarter, compared to analyst estimates of $340.21 million. During the same quarter last year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts forecast that Interface, Inc. will post 1.28 earnings per share for the current fiscal year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Friday, August 30th. Interface’s dividend payout ratio (DPR) is presently 3.96%.

Insider Buying and Selling at Interface

In related news, Director Daniel T. Hendrix sold 3,555 shares of the stock in a transaction dated 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 transaction, the director now directly owns 191,147 shares of the company’s stock, valued at $3,350,806.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Daniel T. Hendrix sold 3,555 shares of the stock in a transaction dated 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 transaction, the director now directly owns 191,147 shares in the company, valued at approximately $3,350,806.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel T. Hendrix sold 17,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $17.05, for a total value of $294,965.00. Following the completion of the sale, the director now owns 213,647 shares in the company, valued at approximately $3,642,681.35. The disclosure for this sale can be found here. Insiders sold 125,858 shares of company stock valued at $2,091,604 in the last 90 days. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TILE shares. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th. Barrington Research reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Interface in a report on Friday.

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.