Wellington Management Group LLP Sells 558,841 Shares of Interface, Inc. (NASDAQ:TILE)

Wellington Management Group LLP cut its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 31.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Interface in the fourth quarter worth about $2,498,000. Virtus Fund Advisers LLC purchased a new position in Interface in the 4th quarter worth about $48,000. Deutsche Bank AG raised 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 buying an additional 19,163 shares during the period. Nuveen Asset Management LLC raised its holdings in Interface by 170.3% during the 4th 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 during the period. Finally, Amundi raised its holdings in Interface by 202.0% during the 4th quarter. Amundi now owns 34,408 shares of the textile maker's stock worth $804,000 after buying an additional 23,013 shares during the period. 98.34% of the stock is currently owned by institutional investors.

Interface Trading Down 1.3%

NASDAQ TILE traded down $0.26 on Monday, hitting $19.83. 305,042 shares of the company were exchanged, compared to its average volume of 510,018. The company's 50 day moving average price is $19.47 and its 200-day moving average price is $21.98. 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 firm has a market capitalization of $1.16 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.96 and a beta of 1.95. Interface, Inc. has a twelve month low of $14.13 and a twelve 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, beating the consensus estimate of $0.21 by $0.04. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company had revenue of $297.41 million for the quarter, compared to analysts' expectations of $297.11 million. During the same quarter in the previous year, the business posted $0.24 EPS. The business's revenue for the quarter was up 2.7% on a year-over-year basis. Analysts predict 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 will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is 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 other Interface news, VP James Poppens sold 19,474 shares of Interface stock in a transaction dated 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 of the company's stock, valued at $2,621,059.88. The trade was a 13.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

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

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.