Bank of America Corp DE Lowers Position in Interface, Inc. (NASDAQ:TILE)

Bank of America Corp DE reduced its position in Interface, Inc. (NASDAQ:TILE - Free Report) by 56.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 61,625 shares of the textile maker's stock after selling 78,963 shares during the period. Bank of America Corp DE owned 0.11% of Interface worth $1,501,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TILE. Raymond James Financial Inc. bought a new position in shares of Interface during the 4th quarter worth approximately $2,498,000. Amundi raised its stake in shares of Interface by 202.0% during the 4th quarter. Amundi now owns 34,408 shares of the textile maker's stock worth $804,000 after acquiring an additional 23,013 shares in the last quarter. Northern Trust Corp raised its stake in shares of Interface by 11.6% during the 4th quarter. Northern Trust Corp now owns 665,537 shares of the textile maker's stock worth $16,206,000 after acquiring an additional 69,417 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Interface during the 4th quarter worth approximately $479,000. Finally, Jennison Associates LLC raised its stake in shares of Interface by 103.2% during the 4th quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker's stock worth $1,595,000 after acquiring an additional 33,264 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Insider Activity at Interface

In related news, VP James Poppens sold 19,474 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $20.14, for a total value of $392,206.36. Following the sale, the vice president now owns 130,142 shares in the company, valued at $2,621,059.88. This represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on TILE. Wall Street Zen upgraded shares of Interface from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. Barrington Research restated an "outperform" rating and set a $30.00 price target on shares of Interface in a research note on Friday, May 2nd.

Interface Stock Up 0.3%

Shares of TILE stock traded up $0.06 during trading hours on Friday, reaching $20.14. 273,841 shares of the company's stock were exchanged, compared to its average volume of 503,450. Interface, Inc. has a 1 year low of $14.13 and a 1 year high of $27.34. The stock has a market cap of $1.18 billion, a PE ratio of 14.08, a PEG ratio of 0.96 and a beta of 1.98. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The stock's fifty day moving average price is $19.48 and its two-hundred day moving average price is $21.83.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The textile maker reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business had revenue of $297.41 million for the quarter, compared to analyst estimates of $297.11 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. Research analysts predict that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.01 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. Interface's dividend payout ratio is currently 2.76%.

Interface 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.