Mason Street Advisors LLC Purchases Shares of 12,799 Interface Inc. (TILE)
Mason Street Advisors LLC purchased a new stake in shares of Interface Inc. (NASDAQ:TILE) during the second quarter, Holdings Channel reports. The firm purchased 12,799 shares of the company’s stock, valued at approximately $195,000.
Several other large investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of Interface by 23.1% in the first quarter. Renaissance Technologies LLC now owns 1,354,106 shares of the company’s stock worth $25,105,000 after buying an additional 253,900 shares during the last quarter. Cambiar Investors LLC purchased a new position in Interface during the second quarter worth approximately $25,405,000. Deprince Race & Zollo Inc. raised its position in Interface by 57.6% in the second quarter. Deprince Race & Zollo Inc. now owns 1,798,789 shares of the company’s stock worth $27,432,000 after buying an additional 657,499 shares in the last quarter. JPMorgan Chase & Co. raised its position in Interface by 188.2% in the first quarter. JPMorgan Chase & Co. now owns 324,203 shares of the company’s stock worth $6,011,000 after buying an additional 211,699 shares in the last quarter. Finally, Swiss National Bank raised its position in Interface by 1.6% in the second quarter. Swiss National Bank now owns 107,400 shares of the company’s stock worth $1,638,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 94.00% of the company’s stock.
Interface Inc. (NASDAQ:TILE) opened at 16.70 on Thursday. Interface Inc. has a 12-month low of $13.70 and a 12-month high of $24.44. The stock’s 50 day moving average is $16.98 and its 200-day moving average is $16.91. The company has a market cap of $1.08 billion, a P/E ratio of 15.25 and a beta of 1.21.
Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. The firm earned $248.20 million during the quarter, compared to analysts’ expectations of $256.99 million. Interface had a net margin of 7.40% and a return on equity of 20.70%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. Analysts predict that Interface Inc. will post $1.15 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Interface from a “hold” rating to a “sell” rating in a research note on Thursday, June 16th. Raymond James Financial Inc. lowered shares of Interface from a “market perform” rating to an “underperform” rating in a research note on Friday, June 24th. Finally, TheStreet raised shares of Interface from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $20.25.
In related news, CEO Daniel T. Hendrix sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $17.83, for a total transaction of $53,490.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raymond S. Willoch sold 23,007 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $17.08, for a total transaction of $392,959.56. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Interface Inc is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors.
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