Nuveen Asset Management LLC Acquires 404,277 Shares of Interface, Inc. (NASDAQ:TILE)

Nuveen Asset Management LLC lifted its stake in Interface, Inc. (NASDAQ:TILE - Free Report) by 170.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 641,730 shares of the textile maker's stock after buying an additional 404,277 shares during the period. Nuveen Asset Management LLC owned approximately 1.10% of Interface worth $15,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Interface during the fourth quarter valued at approximately $2,498,000. Amundi raised its position in shares of Interface by 202.0% during the 4th quarter. Amundi now owns 34,408 shares of the textile maker's stock worth $804,000 after purchasing an additional 23,013 shares during the period. Northern Trust Corp raised its position in shares of Interface by 11.6% during the 4th quarter. Northern Trust Corp now owns 665,537 shares of the textile maker's stock worth $16,206,000 after purchasing an additional 69,417 shares during the period. Proficio Capital Partners LLC acquired a new stake in Interface in the 4th quarter valued at approximately $479,000. Finally, Jennison Associates LLC increased its position in Interface by 103.2% in the 4th quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker's stock valued at $1,595,000 after acquiring an additional 33,264 shares during the period. Hedge funds and other institutional investors own 98.34% of the company's stock.

Insider Buying and Selling

In related news, Director Daniel T. Hendrix sold 7,500 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total transaction of $149,625.00. Following the sale, the director now owns 96,147 shares of the company's stock, valued at approximately $1,918,132.65. This trade represents a 7.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by corporate insiders.

Interface Stock Down 0.5%

Shares of Interface stock traded down $0.11 during midday trading on Thursday, hitting $20.12. The company's stock had a trading volume of 156,498 shares, compared to its average volume of 509,694. The firm has a market capitalization of $1.18 billion, a P/E ratio of 14.06, a PEG ratio of 0.96 and a beta of 1.95. The stock has a 50-day simple moving average of $19.48 and a 200-day simple moving average of $22.11. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. Interface, Inc. has a 1-year low of $14.13 and a 1-year high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last posted 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. 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 revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. As a group, sell-side analysts expect that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.