Millennium Management LLC Lowers Holdings in Interface, Inc. (NASDAQ:TILE)

Millennium Management LLC reduced its holdings in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 80.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,309 shares of the textile maker's stock after selling 251,497 shares during the quarter. Millennium Management LLC owned approximately 0.11% of Interface worth $1,517,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Interface by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,633 shares of the textile maker's stock worth $795,000 after acquiring an additional 1,123 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Interface by 38.6% in the fourth quarter. Lazard Asset Management LLC now owns 95,821 shares of the textile maker's stock valued at $2,332,000 after buying an additional 26,685 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Interface in the fourth quarter valued at $1,123,000. Clark Capital Management Group Inc. grew its stake in shares of Interface by 182.3% in the fourth quarter. Clark Capital Management Group Inc. now owns 285,015 shares of the textile maker's stock valued at $6,940,000 after buying an additional 184,070 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Interface by 56.6% in the fourth quarter. Deutsche Bank AG now owns 53,032 shares of the textile maker's stock valued at $1,291,000 after buying an additional 19,163 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on TILE. Barrington Research reaffirmed an "outperform" rating and set a $30.00 price target on shares of Interface in a report on Friday, May 2nd. Wall Street Zen raised Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th.

Insider Transactions at Interface

In other Interface 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 value of $392,206.36. Following the completion of the transaction, the vice president now owns 130,142 shares in the company, valued at $2,621,059.88. This represents a 13.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Interface Price Performance

TILE stock traded up $0.06 during midday 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 company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.96 and a beta of 1.98. The stock has a 50 day moving average price of $19.48 and a 200-day moving average price of $21.85. 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.

Interface (NASDAQ:TILE - Get Free Report) last released 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. The company had revenue of $297.41 million for the quarter, compared to analysts' expectations 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 period in the previous year, the business posted $0.24 earnings per share. Equities research analysts expect that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

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

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.