Frontier Capital Management Co. LLC cut its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 27.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,608,749 shares of the textile maker's stock after selling 594,726 shares during the quarter. Frontier Capital Management Co. LLC owned about 2.76% of Interface worth $39,173,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Clark Capital Management Group Inc. raised its position in shares of Interface by 182.3% in the 4th quarter. Clark Capital Management Group Inc. now owns 285,015 shares of the textile maker's stock valued at $6,940,000 after purchasing an additional 184,070 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Interface by 56.6% in the fourth quarter. Deutsche Bank AG now owns 53,032 shares of the textile maker's stock worth $1,291,000 after buying an additional 19,163 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Interface by 365.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 210,075 shares of the textile maker's stock worth $5,115,000 after buying an additional 164,893 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Interface during the fourth quarter valued at $217,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Interface by 30.8% during the fourth quarter. Ameriprise Financial Inc. now owns 410,819 shares of the textile maker's stock valued at $10,003,000 after buying an additional 96,669 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.
Insider Activity
In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total value of $149,625.00. Following the sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on TILE shares. StockNews.com raised Interface from a "hold" rating to a "buy" rating in a research report on Saturday. Barrington Research reissued an "outperform" rating and issued a $30.00 price objective on shares of Interface in a report on Friday, May 2nd.
Read Our Latest Analysis on TILE
Interface Stock Performance
Shares of TILE stock traded up $0.27 during trading hours on Friday, hitting $20.70. The company's stock had a trading volume of 286,297 shares, compared to its average volume of 510,324. The stock has a market cap of $1.21 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.96 and a beta of 1.95. Interface, Inc. has a 12-month low of $14.13 and a 12-month high of $27.34. The company has a 50 day moving average of $19.12 and a 200 day moving average of $22.17. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66.
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 the consensus estimate of $0.21 by $0.04. The company had revenue of $297.41 million for the quarter, compared to the consensus estimate of $297.11 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. On average, sell-side analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.
Interface Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, March 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. Interface's payout ratio is 2.76%.
Interface Company Profile
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Free Report)
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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