Bank of New York Mellon Corp Sells 17,137 Shares of Interface, Inc. (NASDAQ:TILE)

Bank of New York Mellon Corp lowered its stake in Interface, Inc. (NASDAQ:TILE - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 0.79% of Interface worth $9,192,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Huntington National Bank acquired a new position in shares of Interface in the 4th quarter valued at $28,000. Virtus Fund Advisers LLC acquired a new position in shares of Interface in the 4th quarter valued at $48,000. Versant Capital Management Inc grew its holdings in shares of Interface by 49.6% in the 1st quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock valued at $49,000 after buying an additional 815 shares during the period. National Bank of Canada FI grew its holdings in shares of Interface by 13.3% in the 4th quarter. National Bank of Canada FI now owns 3,850 shares of the textile maker's stock valued at $94,000 after buying an additional 451 shares during the period. Finally, Scotia Capital Inc. acquired a new position in shares of Interface in the 4th quarter valued at $204,000. Institutional investors and hedge funds own 98.34% of the company's stock.

Interface Stock Up 1.1%

NASDAQ TILE traded up $0.23 on Friday, reaching $20.90. The company had a trading volume of 276,675 shares, compared to its average volume of 311,265. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 0.87 and a beta of 1.97. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.42 and a current ratio of 2.76. Interface, Inc. has a 1-year low of $14.75 and a 1-year high of $27.34. The company's fifty day moving average is $20.74 and its 200-day moving average is $20.77.

Interface (NASDAQ:TILE - Get Free Report) last announced its 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 net margin of 6.48% and a return on equity of 17.73%. The firm had revenue of $297.41 million during the quarter, compared to analyst estimates of $297.11 million. During the same period in the prior year, the business earned $0.24 EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that Interface, Inc. will post 1.37 earnings per share 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 annualized dividend and a yield of 0.19%. Interface's dividend payout ratio (DPR) is presently 2.76%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th. Barrington Research reaffirmed an "outperform" rating and issued a $30.00 target price on shares of Interface in a research note on Tuesday.

Insider Buying and Selling

In other Interface news, VP James Poppens sold 19,474 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $20.14, for a total transaction of $392,206.36. Following the sale, the vice president directly owned 130,142 shares of the company's stock, valued at $2,621,059.88. The trade was a 13.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

About Interface

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.