Envestnet Asset Management Inc. Raises Stock Position in Interface, Inc. (NASDAQ:TILE)

Key Points

• Envestnet Asset Management Inc. significantly increased its position in Interface, Inc. by 277.1% during the first quarter, now owning approximately 0.17% of the company valued at about $1.93 million.
• Despite insider selling, where VP James Poppens sold 19,474 shares leading to a 13.02% decrease in his holdings, company insiders still own 2.60% of the stock.
• Interface's recent earnings report showcased an EPS of $0.25, exceeding expectations and representing a 2.7% year-over-year revenue increase.

Envestnet Asset Management Inc. grew its position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 277.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,270 shares of the textile maker's stock after purchasing an additional 71,476 shares during the quarter. Envestnet Asset Management Inc. owned about 0.17% of Interface worth $1,930,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Huntington National Bank purchased a new stake in shares of Interface during the 4th quarter valued at $28,000. Virtus Fund Advisers LLC bought a new stake in Interface during the fourth quarter worth about $48,000. Versant Capital Management Inc boosted its stake 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 purchasing an additional 815 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Interface by 13.3% in the fourth quarter. National Bank of Canada FI now owns 3,850 shares of the textile maker's stock worth $94,000 after buying an additional 451 shares during the period. Finally, Scotia Capital Inc. purchased a new position in Interface in the 4th quarter worth approximately $204,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Trading Down 0.1%

Shares of TILE stock traded down $0.02 during trading hours on Thursday, reaching $20.62. The company's stock had a trading volume of 429,603 shares, compared to its average volume of 452,296. The company has a current ratio of 2.76, a quick ratio of 1.42 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.21 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.89 and a beta of 1.97. The firm's fifty day simple moving average is $20.76 and its 200 day simple moving average is $20.73. Interface, Inc. has a one year low of $14.75 and a one year high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The textile maker reported $0.25 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $297.11 million. During the same period in the prior year, the firm earned $0.24 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts expect that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.01 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Interface's payout ratio is currently 2.76%.

Insider Buying and Selling at Interface

In related news, VP James Poppens sold 19,474 shares of the 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 transaction, the vice president owned 130,142 shares in the company, valued at $2,621,059.88. This represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barrington Research reaffirmed an "outperform" rating and issued a $30.00 price target on shares of Interface in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th.

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.