Interface, Inc. (TILE) Shares Sold by First Trust Advisors LP
First Trust Advisors LP lessened its holdings in Interface, Inc. (NASDAQ:TILE) by 56.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,894 shares of the textile maker’s stock after selling 56,748 shares during the period. First Trust Advisors LP owned approximately 0.07% of Interface worth $863,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in TILE. BlackRock Inc. boosted its stake in shares of Interface by 144,783.3% in the 1st quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock worth $148,876,000 after buying an additional 7,809,612 shares during the last quarter. Ariel Investments LLC boosted its stake in shares of Interface by 59.0% in the 1st quarter. Ariel Investments LLC now owns 1,202,898 shares of the textile maker’s stock worth $22,915,000 after buying an additional 446,541 shares during the last quarter. JHL Capital Group LLC purchased a new position in shares of Interface in the 1st quarter worth approximately $7,620,000. Vanguard Group Inc. boosted its stake in shares of Interface by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,788,939 shares of the textile maker’s stock worth $110,280,000 after buying an additional 271,658 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Interface in the 1st quarter worth approximately $4,913,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.
A number of equities analysts have recently weighed in on TILE shares. ValuEngine upgraded Interface from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. BidaskClub upgraded Interface from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $19.00 target price on shares of Interface in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.00.
In other news, Director Daniel T. Hendrix sold 6,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $19.95, for a total transaction of $119,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Stansfield Nigel sold 8,450 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $19.26, for a total transaction of $162,747.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,450 shares of company stock worth $510,807. Corporate insiders own 1.90% of the company’s stock.
Interface, Inc. (NASDAQ:TILE) opened at 21.30 on Friday. Interface, Inc. has a 52 week low of $14.59 and a 52 week high of $21.40. The stock has a market cap of $1.31 billion, a P/E ratio of 27.41 and a beta of 1.19. The stock has a 50 day moving average price of $19.22 and a 200-day moving average price of $19.35.
Interface (NASDAQ:TILE) last posted its quarterly earnings results on Wednesday, July 26th. The textile maker reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Interface had a net margin of 5.21% and a return on equity of 19.66%. The firm had revenue of $251.70 million for the quarter, compared to analysts’ expectations of $254.94 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities analysts anticipate that Interface, Inc. will post $1.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a dividend of $0.065 per share. This is a boost from Interface’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.22%. Interface’s dividend payout ratio is presently 33.33%.
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Interface Company Profile
Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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