Wellington Management Group LLP Has $29.57 Million Holdings in Interface, Inc. (NASDAQ:TILE)

Wellington Management Group LLP cut its stake in Interface, Inc. (NASDAQ:TILE - Free Report) by 31.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,214,341 shares of the textile maker's stock after selling 558,841 shares during the quarter. Wellington Management Group LLP owned about 2.08% of Interface worth $29,569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jefferies Financial Group Inc. purchased a new position in shares of Interface in the 4th quarter valued at $1,123,000. Mackenzie Financial Corp increased its holdings in shares of Interface by 10.4% in the 4th quarter. Mackenzie Financial Corp now owns 38,188 shares of the textile maker's stock valued at $930,000 after acquiring an additional 3,598 shares during the period. PharVision Advisers LLC purchased a new position in shares of Interface in the 4th quarter valued at $223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Interface by 32.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,370 shares of the textile maker's stock valued at $3,467,000 after acquiring an additional 35,001 shares during the period. Finally, Virtus Fund Advisers LLC purchased a new position in Interface during the 4th quarter worth $48,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Interface Stock Down 0.4%

Shares of NASDAQ TILE traded down $0.09 during mid-day trading on Wednesday, hitting $20.16. The company had a trading volume of 60,019 shares, compared to its average volume of 505,561. Interface, Inc. has a 1-year low of $14.13 and a 1-year high of $27.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The company has a market capitalization of $1.18 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.96 and a beta of 1.95. The business's 50-day simple moving average is $19.46 and its 200 day simple moving average is $21.93.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $297.41 million for the quarter, compared to analyst estimates of $297.11 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share. On average, analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.01 per share. The ex-dividend date is 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%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TILE shares. Wall Street Zen upgraded Interface from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. Barrington Research reiterated an "outperform" rating and set a $30.00 price target on shares of Interface in a research note on Friday, May 2nd.

Insider Activity

In other news, VP James Poppens sold 19,474 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $20.14, for a total value of $392,206.36. Following the sale, the vice president now owns 130,142 shares in the company, valued at approximately $2,621,059.88. This represents a 13.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.