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

Bank of America Corp DE trimmed its position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 56.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 61,625 shares of the textile maker's stock after selling 78,963 shares during the quarter. Bank of America Corp DE owned about 0.11% of Interface worth $1,501,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TILE. Hood River Capital Management LLC bought a new position in shares of Interface during the fourth quarter valued at $28,897,000. Vanguard Group Inc. increased its holdings in Interface by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker's stock worth $148,936,000 after buying an additional 246,726 shares in the last quarter. Barclays PLC raised its position in Interface by 688.5% in the 3rd quarter. Barclays PLC now owns 256,987 shares of the textile maker's stock worth $4,873,000 after buying an additional 224,395 shares during the last quarter. American Century Companies Inc. lifted its stake in Interface by 12.3% during the 4th quarter. American Century Companies Inc. now owns 1,992,296 shares of the textile maker's stock valued at $48,512,000 after acquiring an additional 218,113 shares during the period. Finally, Trexquant Investment LP boosted its holdings in shares of Interface by 385.0% during the 4th quarter. Trexquant Investment LP now owns 240,594 shares of the textile maker's stock valued at $5,858,000 after acquiring an additional 190,982 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP James Poppens sold 19,474 shares of Interface stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $20.14, for a total transaction of $392,206.36. Following the transaction, the vice president now directly owns 130,142 shares in the company, valued at approximately $2,621,059.88. The trade was a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company's stock.

Interface Stock Performance

Shares of TILE traded up $0.06 during trading hours on Friday, hitting $20.14. The stock had a trading volume of 273,841 shares, compared to its average volume of 502,769. The firm has a market capitalization 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 debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface, Inc. has a 12 month low of $14.13 and a 12 month high of $27.34. The stock has a fifty day moving average price of $19.47 and a 200 day moving average price of $21.89.

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, topping the consensus estimate 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 analysts' expectations of $297.11 million. During the same period last year, the firm posted $0.24 earnings per share. The business's revenue for the quarter was up 2.7% on a year-over-year basis. Analysts anticipate 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 paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Friday, May 30th. Interface's dividend payout ratio is presently 2.76%.

Wall Street Analyst Weigh In

TILE has been the subject of a number of research analyst reports. 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. Wall Street Zen upgraded shares of Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th.

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.