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Interface, Inc. (NASDAQ:TILE) Shares Sold by Bank of New York Mellon Corp

Interface logo with Consumer Discretionary background

Bank of New York Mellon Corp trimmed its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 463,291 shares of the textile maker's stock after selling 17,137 shares during the period. Bank of New York Mellon Corp owned about 0.79% of Interface worth $9,192,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TILE. Proficio Capital Partners LLC bought a new stake in shares of Interface in the 4th quarter valued at approximately $479,000. Raymond James Financial Inc. bought a new stake in shares of Interface in the 4th quarter valued at approximately $2,498,000. Summit Global Investments bought a new stake in shares of Interface in the 4th quarter valued at approximately $319,000. American Century Companies Inc. grew 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 worth $48,512,000 after buying an additional 218,113 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Interface during the 4th quarter worth $321,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Interface Stock Performance

TILE traded up $0.13 during trading on Friday, reaching $20.80. 16,670 shares of the company were exchanged, compared to its average volume of 454,285. The stock has a market cap of $1.22 billion, a P/E ratio of 14.34, a PEG ratio of 0.89 and a beta of 1.97. The firm has a 50 day moving average of $20.73 and a 200 day moving average of $20.79. The company has a current ratio of 2.76, a quick ratio of 1.42 and a debt-to-equity ratio of 0.59. Interface, Inc. has a 52 week low of $14.75 and a 52 week high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. Interface had a return on equity of 17.73% and a net margin of 6.48%. The company had revenue of $297.41 million during the quarter, compared to analyst estimates of $297.11 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. Interface's dividend payout ratio (DPR) is presently 2.76%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barrington Research restated an "outperform" rating and set a $30.00 price objective on shares of Interface in a research note on Tuesday. Wall Street Zen upgraded Interface from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th.

Get Our Latest Stock Report on Interface

Insider Transactions at Interface

In other Interface news, VP James Poppens sold 19,474 shares of the business's 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 completion of the transaction, the vice president owned 130,142 shares in the company, valued at approximately $2,621,059.88. The trade was a 13.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company's stock.

Interface Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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