Algert Global LLC Increases Stake in Interface, Inc. (NASDAQ:TILE)

Algert Global LLC grew its stake in Interface, Inc. (NASDAQ:TILE - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 219,854 shares of the textile maker's stock after buying an additional 27,783 shares during the period. Algert Global LLC owned 0.38% of Interface worth $5,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC raised its position in Interface by 204.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock worth $27,000 after acquiring an additional 750 shares in the last quarter. Huntington National Bank purchased a new position in Interface during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC increased its position in Interface by 78.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker's stock worth $30,000 after purchasing an additional 546 shares during the last quarter. Principal Securities Inc. raised its position in shares of Interface by 103.1% in the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker's stock worth $36,000 after buying an additional 741 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Interface by 163.5% in the 4th quarter. US Bancorp DE now owns 2,398 shares of the textile maker's stock worth $58,000 after purchasing an additional 1,488 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Insider Buying and Selling

In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total value of $149,625.00. Following the completion of the sale, the director now owns 96,147 shares in the company, valued at approximately $1,918,132.65. The trade was a 7.24 % 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. 2.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on TILE shares. StockNews.com upgraded shares of Interface from a "hold" rating to a "buy" rating in a research note on Saturday. Barrington Research restated an "outperform" rating and set a $30.00 price target on shares of Interface in a report on Friday, May 2nd.

Interface Trading Up 1.3 %

Interface stock traded up $0.27 during midday trading on Friday, hitting $20.70. 286,297 shares of the stock were exchanged, compared to its average volume of 510,324. The company has a fifty day simple moving average of $19.12 and a two-hundred day simple moving average of $22.17. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.21 billion, a PE ratio of 14.48, a P/E/G ratio of 0.96 and a beta of 1.95. Interface, Inc. has a 52 week low of $14.13 and a 52 week high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last announced its earnings results on Friday, May 2nd. The textile maker reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $297.41 million during the quarter, compared to analysts' expectations of $297.11 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. Equities 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, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. The ex-dividend date was Friday, March 28th. Interface's dividend payout ratio (DPR) is 2.76%.

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.