Interface, Inc. (NASDAQ:TILE) Position Boosted by Northern Trust Corp

Northern Trust Corp increased its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 665,537 shares of the textile maker's stock after purchasing an additional 69,417 shares during the quarter. Northern Trust Corp owned 1.14% of Interface worth $16,206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Oberweis Asset Management Inc. grew its position in Interface by 17.1% in the fourth quarter. Oberweis Asset Management Inc. now owns 480,100 shares of the textile maker's stock worth $11,690,000 after buying an additional 70,200 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Interface during the fourth quarter worth $28,897,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Interface by 2.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 59,340 shares of the textile maker's stock valued at $1,445,000 after purchasing an additional 1,483 shares during the last quarter. State of Tennessee Department of Treasury lifted its holdings in shares of Interface by 50.4% during the fourth quarter. State of Tennessee Department of Treasury now owns 52,123 shares of the textile maker's stock valued at $1,269,000 after purchasing an additional 17,465 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Interface by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 35,093 shares of the textile maker's stock valued at $855,000 after purchasing an additional 1,905 shares during the period. 98.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Interface

In related news, Director Daniel T. Hendrix sold 7,500 shares of Interface 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company's stock.

Interface Price Performance

TILE opened at $20.96 on Thursday. The firm has a market capitalization of $1.22 billion, a P/E ratio of 14.66, a PEG ratio of 0.96 and a beta of 1.95. The stock has a fifty day moving average of $19.27 and a 200-day moving average of $22.20. 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 12-month low of $14.13 and a 12-month high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm had revenue of $297.41 million during the quarter, compared to the consensus estimate of $297.11 million. During the same period in the prior year, the business earned $0.24 EPS. The business's revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Friday, March 28th. Interface's payout ratio is presently 2.76%.

Wall Street Analyst Weigh In

A number of analysts have commented on TILE shares. StockNews.com raised shares of Interface from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. Barrington Research restated an "outperform" rating and set a $30.00 price target on shares of Interface in a report on Friday, May 2nd.

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.

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