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

Hennessy Advisors Inc. reduced its stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 546,500 shares of the textile maker's stock after selling 62,400 shares during the quarter. Hennessy Advisors Inc. owned about 0.94% of Interface worth $10,843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Interface during the 4th quarter worth approximately $2,498,000. Virtus Fund Advisers LLC bought a new stake in shares of Interface during the fourth quarter worth $48,000. Man Group plc acquired a new stake in shares of Interface during the fourth quarter worth $1,083,000. Deutsche Bank AG increased its holdings in Interface by 56.6% during the 4th quarter. Deutsche Bank AG now owns 53,032 shares of the textile maker's stock worth $1,291,000 after purchasing an additional 19,163 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Interface by 170.3% during the fourth quarter. Nuveen Asset Management LLC now owns 641,730 shares of the textile maker's stock worth $15,626,000 after buying an additional 404,277 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barrington Research reaffirmed 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 note on Saturday, May 10th.

Interface Stock Down 1.3%

Shares of NASDAQ:TILE traded down $0.27 during midday trading on Tuesday, hitting $20.12. The stock had a trading volume of 327,946 shares, compared to its average volume of 484,688. 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 business's 50-day simple moving average is $19.74 and its 200-day simple moving average is $21.57. The company has a market cap of $1.18 billion, a P/E ratio of 14.07, a PEG ratio of 0.96 and a beta of 1.98. Interface, Inc. has a 12 month low of $14.13 and a 12 month 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 EPS for the quarter, beating 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 business had revenue of $297.41 million for the quarter, compared to analyst estimates of $297.11 million. During the same quarter in the prior year, the business earned $0.24 EPS. Interface'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 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued 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 dividend yield of 0.20%. Interface's dividend payout ratio is presently 2.76%.

Insider Transactions at Interface

In other Interface news, VP James Poppens sold 19,474 shares of the firm'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 transaction, the vice president now owns 130,142 shares in the company, valued at $2,621,059.88. This trade represents a 13.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% 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.