Royce & Associates LP Purchases New Position in Interface, Inc. (NASDAQ:TILE)

Royce & Associates LP purchased a new stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 114,190 shares of the textile maker's stock, valued at approximately $2,266,000. Royce & Associates LP owned 0.20% of Interface at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Interface during the 1st quarter valued at about $1,471,000. GW&K Investment Management LLC grew its holdings in shares of Interface by 15.0% during the 1st quarter. GW&K Investment Management LLC now owns 1,183,961 shares of the textile maker's stock worth $23,490,000 after acquiring an additional 154,872 shares during the period. Foundry Partners LLC grew its holdings in shares of Interface by 1.4% during the 1st quarter. Foundry Partners LLC now owns 156,741 shares of the textile maker's stock worth $3,110,000 after acquiring an additional 2,124 shares during the period. Jennison Associates LLC grew its holdings in shares of Interface by 34.3% during the 1st quarter. Jennison Associates LLC now owns 87,986 shares of the textile maker's stock worth $1,746,000 after acquiring an additional 22,492 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Interface by 62.1% during the 1st quarter. Victory Capital Management Inc. now owns 268,660 shares of the textile maker's stock worth $5,330,000 after acquiring an additional 102,903 shares during the period. Hedge funds and other institutional investors own 98.34% of the company's stock.

Interface Stock Up 16.9%

Shares of TILE stock traded up $3.48 during midday trading on Friday, reaching $24.10. 526,698 shares of the stock were exchanged, compared to its average volume of 452,635. Interface, Inc. has a 1 year low of $14.75 and a 1 year high of $27.34. The company's 50 day moving average is $20.78 and its two-hundred day moving average is $20.71. The company has a current ratio of 2.76, a quick ratio of 1.42 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1.41 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.87 and a beta of 1.97.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.13. Interface had a return on equity of 17.73% and a net margin of 6.48%. Interface's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. On average, equities research analysts predict that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.01 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Interface's dividend payout ratio is presently 2.76%.

Analysts Set New Price Targets

A number of research firms have weighed in on TILE. Wall Street Zen upgraded Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th. Barrington Research reiterated an "outperform" rating and set a $30.00 target price on shares of Interface in a report on Tuesday, July 22nd.

Insider Buying and Selling at Interface

In related news, VP James Poppens sold 19,474 shares of the company's stock in a transaction that occurred 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 sale, the vice president owned 130,142 shares in the company, valued at $2,621,059.88. This represents a 13.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by insiders.

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.