Teacher Retirement System of Texas Sells 37,335 Shares of Interface, Inc. (NASDAQ:TILE)

Teacher Retirement System of Texas cut its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 10.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 307,594 shares of the textile maker's stock after selling 37,335 shares during the period. Teacher Retirement System of Texas owned 0.53% of Interface worth $6,103,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. North Star Investment Management Corp. lifted its holdings in shares of Interface by 9.9% during the first quarter. North Star Investment Management Corp. now owns 166,075 shares of the textile maker's stock worth $3,295,000 after buying an additional 15,000 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Interface during the first quarter worth $304,000. Raymond James Financial Inc. bought a new position in Interface during the fourth quarter worth $2,498,000. Virtus Fund Advisers LLC bought a new position in Interface during the fourth quarter worth $48,000. Finally, Deutsche Bank AG increased its position in Interface by 56.6% during the fourth quarter. Deutsche Bank AG now owns 53,032 shares of the textile maker's stock worth $1,291,000 after acquiring an additional 19,163 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Insider Activity

In other Interface 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 transaction of $392,206.36. Following the completion of the transaction, the vice president owned 130,142 shares of the company's stock, valued at $2,621,059.88. This represents a 13.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

Interface Price Performance

Shares of NASDAQ:TILE traded down $0.07 during trading on Tuesday, reaching $21.65. The stock had a trading volume of 331,594 shares, compared to its average volume of 491,396. Interface, Inc. has a 52 week low of $14.13 and a 52 week high of $27.34. The business's 50-day moving average price is $20.42 and its 200 day moving average price is $21.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.76 and a quick ratio of 1.42. The stock has a market capitalization of $1.27 billion, a PE ratio of 14.93, a P/E/G ratio of 0.93 and a beta of 1.97.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The textile maker reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.04. The business had revenue of $297.41 million during the quarter, compared to analyst estimates of $297.11 million. Interface had a net margin of 6.48% and a return on equity of 17.73%. Interface's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. As a group, equities analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.18%. The ex-dividend date was Friday, May 30th. Interface's dividend payout ratio (DPR) is 2.76%.

Analyst Upgrades and Downgrades

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

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.