Ameriprise Financial Inc. Purchases 96,669 Shares of Interface, Inc. (NASDAQ:TILE)

Ameriprise Financial Inc. increased its holdings in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 30.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 410,819 shares of the textile maker's stock after purchasing an additional 96,669 shares during the period. Ameriprise Financial Inc. owned 0.70% of Interface worth $10,003,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI increased its holdings in shares of Interface by 13.3% during the 4th quarter. National Bank of Canada FI now owns 3,850 shares of the textile maker's stock worth $94,000 after acquiring an additional 451 shares during the last quarter. Smartleaf Asset Management LLC boosted 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 period. Principal Securities Inc. boosted its position in Interface by 103.1% during the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker's stock worth $36,000 after purchasing an additional 741 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Interface by 204.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock valued at $27,000 after purchasing an additional 750 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Interface by 4.2% in the fourth quarter. Bank of Montreal Can now owns 21,870 shares of the textile maker's stock valued at $533,000 after purchasing an additional 891 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barrington Research reiterated an "outperform" rating and issued a $30.00 price target on shares of Interface in a research note on Friday, May 2nd. StockNews.com upgraded Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th.

Interface Stock Performance

Shares of NASDAQ TILE opened at $20.76 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 0.96 and a beta of 1.95. The stock's fifty day moving average price is $19.39 and its two-hundred day moving average price is $22.28. Interface, Inc. has a one year low of $14.13 and a one year 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.04. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company had revenue of $297.41 million during the quarter, compared to analysts' expectations of $297.11 million. During the same quarter in the previous year, the business posted $0.24 earnings per share. Interface's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. Interface's payout ratio is 2.76%.

Insider Activity

In related news, Director Daniel T. Hendrix sold 7,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total transaction of $149,625.00. Following the sale, the director now owns 96,147 shares of the company's stock, valued at $1,918,132.65. This represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by company insiders.

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.

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