Interface, Inc. (NASDAQ:TILE) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in Interface, Inc. by 1.2%, owning approximately 1.53% of the company valued at $17.7 million after selling 10,500 shares during the first quarter.
• Several other hedge funds increased their positions in Interface, with Envestnet Asset Management significantly raising its stake by 277.1%, now owning 97,270 shares valued at $1.93 million.
• Interface reported earnings of $0.60 per share for the last quarter, exceeding estimates and showing an 8.3% revenue increase from the same period last year.

LSV Asset Management reduced its stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 892,706 shares of the textile maker's stock after selling 10,500 shares during the quarter. LSV Asset Management owned about 1.53% of Interface worth $17,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in TILE. Congress Asset Management Co. purchased a new stake in Interface during the 1st quarter valued at approximately $44,969,000. Hood River Capital Management LLC purchased a new stake in Interface during the 4th quarter valued at approximately $28,897,000. Pacer Advisors Inc. purchased a new stake in Interface during the 1st quarter valued at approximately $8,635,000. Nuveen Asset Management LLC grew 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 valued at $15,626,000 after buying an additional 404,277 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Interface by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker's stock valued at $148,936,000 after buying an additional 246,726 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Interface

In other Interface news, VP Stansfield Nigel sold 79,497 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.60, for a total value of $2,035,123.20. Following the completion of the sale, the vice president directly owned 65,125 shares in the company, valued at $1,667,200. This represents a 54.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Poppens sold 19,474 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $20.14, for a total value of $392,206.36. Following the completion of the transaction, the vice president directly owned 130,142 shares in the company, valued at approximately $2,621,059.88. This trade represents a 13.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,497 shares of company stock valued at $2,437,913. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

TILE has been the subject of a number of research analyst reports. Barrington Research increased their price objective on shares of Interface from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th.

Interface Stock Down 0.4%

Shares of Interface stock traded down $0.10 during trading on Friday, hitting $24.78. 129,879 shares of the stock traded hands, compared to its average volume of 455,810. The firm has a market cap of $1.45 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.01 and a beta of 2.00. The company has a current ratio of 2.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. Interface, Inc. has a 52-week low of $16.20 and a 52-week high of $27.34. The stock's fifty day simple moving average is $21.29 and its 200 day simple moving average is $20.75.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.13. Interface had a return on equity of 18.97% and a net margin of 7.08%. The business had revenue of $375.52 million for the quarter, compared to analyst estimates of $360.57 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The company's revenue was up 8.3% on a year-over-year basis. On average, equities analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, May 30th. Interface's dividend payout ratio is presently 2.47%.

Interface 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.