Interface, Inc. (NASDAQ:TILE) Stake Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its holdings in Interface, Inc. (NASDAQ:TILE) by 6.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,103 shares of the textile maker’s stock after purchasing an additional 1,368 shares during the period. The Manufacturers Life Insurance Company’s holdings in Interface were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TILE. Hennessy Advisors Inc. purchased a new stake in shares of Interface during the second quarter worth $7,430,000. American Century Companies Inc. raised its holdings in shares of Interface by 22.3% during the second quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock worth $22,951,000 after acquiring an additional 285,353 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Interface by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after acquiring an additional 247,350 shares in the last quarter. Gendell Jeffrey L raised its holdings in shares of Interface by 1,041.8% during the first quarter. Gendell Jeffrey L now owns 250,363 shares of the textile maker’s stock worth $4,211,000 after acquiring an additional 228,435 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Interface by 57.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 336,736 shares of the textile maker’s stock worth $5,664,000 after acquiring an additional 122,249 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Activity

In other news, CFO Bruce Andrew Hausmann sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total value of $935,000.00. Following the sale, the chief financial officer now directly owns 198,475 shares of the company’s stock, valued at approximately $3,374,075. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Bruce Andrew Hausmann sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total value of $935,000.00. Following the sale, the chief financial officer now directly owns 198,475 shares of the company’s stock, valued at approximately $3,374,075. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel T. Hendrix sold 3,403 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $15.99, for a total value of $54,413.97. Following the completion of the sale, the director now directly owns 200,147 shares in the company, valued at approximately $3,200,350.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,158 shares of company stock valued at $1,658,912. 2.60% of the stock is owned by insiders.

Analyst Ratings Changes

TILE has been the subject of several recent research reports. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th. Barrington Research reiterated an “outperform” rating and set a $22.00 price objective on shares of Interface in a report on Friday, September 20th.

Interface Price Performance

NASDAQ TILE opened at $19.89 on Friday. Interface, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $19.92. The stock’s 50-day moving average is $18.30 and its two-hundred day moving average is $16.60. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.76 and a quick ratio of 1.45. The firm has a market cap of $1.16 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 0.97 and a beta of 1.97.

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

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Friday, August 30th. Interface’s dividend payout ratio is currently 3.96%.

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.