Cambiar Investors LLC Reduces Position in Interface, Inc. (TILE)
Cambiar Investors LLC reduced its position in shares of Interface, Inc. (NASDAQ:TILE) by 22.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 587,662 shares of the textile maker’s stock after selling 172,011 shares during the period. Cambiar Investors LLC owned approximately 0.95% of Interface worth $12,870,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in TILE. BlackRock Inc. lifted its holdings in Interface by 144,783.3% during the 1st quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock worth $148,876,000 after purchasing an additional 7,809,612 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in Interface by 2,392.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 914,291 shares of the textile maker’s stock worth $17,965,000 after purchasing an additional 877,611 shares during the last quarter. FMR LLC lifted its holdings in Interface by 14.8% during the 2nd quarter. FMR LLC now owns 2,452,630 shares of the textile maker’s stock worth $48,194,000 after purchasing an additional 315,606 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Interface by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 5,788,939 shares of the textile maker’s stock worth $110,280,000 after purchasing an additional 271,658 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in Interface by 5.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 3,120,601 shares of the textile maker’s stock worth $61,256,000 after purchasing an additional 157,800 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.
In other news, Director Christopher G. Kennedy sold 29,500 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $21.92, for a total transaction of $646,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel T. Hendrix sold 6,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $19.95, for a total value of $119,700.00. The disclosure for this sale can be found here. Insiders sold a total of 92,450 shares of company stock valued at $2,018,267 over the last ninety days. Insiders own 1.90% of the company’s stock.
Several analysts recently weighed in on the company. Zacks Investment Research raised Interface from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Saturday, October 28th. Nomura lifted their price target on Interface from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Interface in a report on Thursday, October 26th. ValuEngine cut Interface from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, BidaskClub cut Interface from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.50.
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Shares of Interface, Inc. (NASDAQ TILE) traded up $0.15 during midday trading on Tuesday, reaching $23.20. The company’s stock had a trading volume of 787,000 shares, compared to its average volume of 436,689. The firm has a market cap of $1,418.94, a PE ratio of 20.22 and a beta of 1.32. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.51 and a quick ratio of 1.40. Interface, Inc. has a 52-week low of $16.80 and a 52-week high of $23.85.
Interface (NASDAQ:TILE) last announced its quarterly earnings data on Wednesday, October 25th. The textile maker reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $257.43 million during the quarter, compared to analysts’ expectations of $255.63 million. Interface had a return on equity of 21.39% and a net margin of 5.53%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. equities research analysts expect that Interface, Inc. will post 1.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be issued a $0.065 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.26 annualized dividend and a yield of 1.12%. Interface’s dividend payout ratio is presently 30.59%.
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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