Interface, Inc. (NASDAQ:TILE) Shares Acquired by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its holdings in Interface, Inc. by 62.1% during the first quarter, acquiring an additional 102,903 shares, now owning a total of 268,660 shares worth $5.33 million.
• Insider trading activity was reported, with VP James Poppens selling 19,474 shares at an average price of $20.14, representing a 13.02% decrease in his position.
• Equities analysts have shown positive forecasts for Interface, with Wall Street Zen upgrading the stock from "hold" to "buy" and setting a target price of $30.00 according to Barrington Research.

Victory Capital Management Inc. increased its stake in Interface, Inc. (NASDAQ:TILE - Free Report) by 62.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 268,660 shares of the textile maker's stock after purchasing an additional 102,903 shares during the quarter. Victory Capital Management Inc. owned 0.46% of Interface worth $5,330,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Huntington National Bank purchased a new position in Interface in the 4th quarter valued at approximately $28,000. Virtus Fund Advisers LLC acquired a new stake in Interface in the 4th quarter valued at about $48,000. Versant Capital Management Inc raised its position in Interface by 49.6% during the first quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock worth $49,000 after acquiring an additional 815 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Interface by 13.3% in the fourth quarter. National Bank of Canada FI now owns 3,850 shares of the textile maker's stock valued at $94,000 after purchasing an additional 451 shares in the last quarter. Finally, Scotia Capital Inc. purchased a new position in shares of Interface during the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th. Barrington Research restated an "outperform" rating and set a $30.00 price objective on shares of Interface in a report on Tuesday, July 22nd.

Interface Trading Down 2.3%

TILE traded down $0.48 during trading on Wednesday, hitting $20.64. 263,105 shares of the company's stock were exchanged, compared to its average volume of 303,463. Interface, Inc. has a 1 year low of $14.75 and a 1 year high of $27.34. The stock has a 50 day moving average price of $20.76 and a 200 day moving average price of $20.73. The firm has a market cap of $1.21 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 0.89 and a beta of 1.97. The company has a current ratio of 2.76, a quick ratio of 1.42 and a debt-to-equity ratio of 0.59.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The textile maker reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. Interface had a net margin of 6.48% and a return on equity of 17.73%. The firm had revenue of $297.41 million during the quarter, compared to analysts' expectations of $297.11 million. During the same period in the prior year, the company earned $0.24 EPS. The firm's revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.01 per share. The ex-dividend date was Friday, May 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. Interface's payout ratio is currently 2.76%.

Insider Buying and Selling at Interface

In related news, VP James Poppens sold 19,474 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $20.14, for a total value of $392,206.36. Following the transaction, the vice president owned 130,142 shares in the company, valued at approximately $2,621,059.88. The trade was a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company's stock.

About Interface

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.