HighTower Advisors LLC Acquires Shares of 60,073 Interface, Inc. (NASDAQ:TILE)

HighTower Advisors LLC acquired a new stake in Interface, Inc. (NASDAQ:TILE) in the third quarter, Holdings Channel reports. The fund acquired 60,073 shares of the textile maker’s stock, valued at approximately $1,138,000.

A number of other institutional investors have also recently bought and sold shares of TILE. Innealta Capital LLC bought a new stake in Interface in the 2nd quarter valued at about $32,000. KBC Group NV lifted its holdings in shares of Interface by 70.7% during the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after acquiring an additional 1,438 shares during the period. nVerses Capital LLC bought a new stake in shares of Interface during the 3rd quarter worth approximately $70,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Interface during the 2nd quarter worth approximately $91,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Interface during the 2nd quarter worth approximately $106,000. Institutional investors own 98.34% of the company’s stock.

Interface Price Performance

TILE stock opened at $26.11 on Tuesday. The company has a 50 day simple moving average of $23.15 and a 200 day simple moving average of $19.01. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 1.29 and a beta of 2.09. Interface, Inc. has a 1 year low of $11.48 and a 1 year high of $27.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. The business had revenue of $344.30 million during 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 firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. Research analysts anticipate that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Friday, November 29th. Interface’s dividend payout ratio is 2.80%.

Insider Buying and Selling

In other Interface news, VP Stansfield Nigel sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 144,355 shares in the company, valued at approximately $3,481,842.60. This represents a 12.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David B. Foshee sold 15,175 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total transaction of $398,647.25. Following the completion of the transaction, the vice president now owns 202,398 shares of the company’s stock, valued at approximately $5,316,995.46. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,175 shares of company stock worth $2,119,987 in the last three months. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.