Clark Capital Management Group Inc. Buys 184,070 Shares of Interface, Inc. (NASDAQ:TILE)

Clark Capital Management Group Inc. boosted its stake in Interface, Inc. (NASDAQ:TILE - Free Report) by 182.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 285,015 shares of the textile maker's stock after purchasing an additional 184,070 shares during the quarter. Clark Capital Management Group Inc. owned about 0.49% of Interface worth $6,940,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Interface in the fourth quarter worth $2,498,000. Amundi grew its holdings in Interface by 202.0% in the fourth quarter. Amundi now owns 34,408 shares of the textile maker's stock worth $804,000 after purchasing an additional 23,013 shares during the period. Jennison Associates LLC grew its holdings in Interface by 103.2% in the fourth quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker's stock worth $1,595,000 after purchasing an additional 33,264 shares during the period. Proficio Capital Partners LLC acquired a new stake in Interface in the fourth quarter worth $479,000. Finally, Vanguard Group Inc. grew its holdings in Interface by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker's stock worth $148,936,000 after purchasing an additional 246,726 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Daniel T. Hendrix sold 7,500 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $19.95, for a total transaction of $149,625.00. Following the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

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

Interface Stock Up 1.3%

Shares of NASDAQ TILE traded up $0.27 during mid-day trading on Friday, reaching $20.70. 286,297 shares of the company's stock traded hands, compared to its average volume of 510,324. The stock has a market cap of $1.21 billion, a P/E ratio of 14.48, a PEG ratio of 0.96 and a beta of 1.95. The business has a 50-day simple moving average of $19.12 and a 200 day simple moving average of $22.20. Interface, Inc. has a 1-year low of $14.13 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 - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.04. The firm had revenue of $297.41 million during the quarter, compared to analysts' expectations of $297.11 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business's revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. On average, analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Friday, March 28th. Interface's dividend payout ratio is currently 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.