Hennessy Advisors Inc. Sells 62,400 Shares of Interface, Inc. (NASDAQ:TILE)

Hennessy Advisors Inc. lessened its position in Interface, Inc. (NASDAQ:TILE - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 546,500 shares of the textile maker's stock after selling 62,400 shares during the quarter. Hennessy Advisors Inc. owned 0.94% of Interface worth $10,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TILE. Allspring Global Investments Holdings LLC bought a new position in Interface in the fourth quarter valued at $228,000. 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 valued at $36,000 after buying an additional 741 shares during the period. Principal Financial Group Inc. boosted its position in Interface by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 315,596 shares of the textile maker's stock valued at $7,685,000 after buying an additional 11,546 shares during the period. Venturi Wealth Management LLC boosted its position in Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock valued at $27,000 after buying an additional 750 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in Interface during the fourth quarter valued at about $160,000. Institutional investors own 98.34% of the company's stock.

Analysts Set New Price Targets

TILE has been the subject of several analyst reports. Barrington Research restated an "outperform" rating and set a $30.00 price target on shares of Interface in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Interface from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th.

Interface Trading Down 4.3%

Shares of Interface stock traded down $0.91 during trading on Friday, reaching $20.06. 373,018 shares of the stock were exchanged, compared to its average volume of 502,726. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The stock's fifty day moving average is $19.69 and its 200 day moving average is $21.64. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.96 and a beta of 1.98. Interface, Inc. has a 1 year low of $14.13 and a 1 year high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last posted 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 6.49% and a return on equity of 19.91%. The company 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 posted $0.24 earnings per share. Interface's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.01 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.04 annualized dividend and a yield of 0.20%. Interface's dividend payout ratio (DPR) is presently 2.76%.

Insider Buying and Selling at Interface

In related news, VP James Poppens sold 19,474 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $20.14, for a total transaction of $392,206.36. Following the completion of the sale, the vice president now owns 130,142 shares of the company's stock, valued at $2,621,059.88. This trade represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company's stock.

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.