GAMMA Investing LLC Has $16.81 Million Position in Interface, Inc. (NASDAQ:TILE)

GAMMA Investing LLC lifted its stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 2,083.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,717 shares of the textile maker's stock after acquiring an additional 80,837 shares during the quarter. GAMMA Investing LLC owned about 0.15% of Interface worth $16,810,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its stake in Interface by 204.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock valued at $27,000 after purchasing an additional 750 shares in the last quarter. Huntington National Bank acquired a new stake in shares of Interface in the fourth quarter valued at $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Interface by 78.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker's stock worth $30,000 after purchasing an additional 546 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Interface by 103.1% in the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker's stock worth $36,000 after purchasing an additional 741 shares in the last quarter. Finally, Virtus Fund Advisers LLC acquired a new stake in Interface during the fourth quarter valued at approximately $48,000. Institutional investors own 98.34% of the company's stock.

Interface Trading Up 0.3%

TILE traded up $0.06 during trading on Friday, reaching $20.14. The company had a trading volume of 273,841 shares, compared to its average volume of 503,458. The firm's 50-day simple moving average is $19.48 and its 200 day simple moving average is $21.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 14.08, 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 released its 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 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 the consensus estimate of $297.11 million. During the same period last year, the firm posted $0.24 earnings per share. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.01 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. Interface's payout ratio is currently 2.76%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barrington Research restated an "outperform" rating and issued a $30.00 price target on shares of Interface in a research report on Friday, May 2nd. Wall Street Zen raised Interface from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th.

Insider Transactions at Interface

In related news, VP James Poppens sold 19,474 shares of the company'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 directly owns 130,142 shares of the company's stock, valued at approximately $2,621,059.88. The trade was a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by 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.