Raymond James Financial Inc. Invests $2.50 Million in Interface, Inc. (NASDAQ:TILE)

Raymond James Financial Inc. purchased a new stake in Interface, Inc. (NASDAQ:TILE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 102,567 shares of the textile maker's stock, valued at approximately $2,498,000. Raymond James Financial Inc. owned approximately 0.18% of Interface as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock worth $27,000 after purchasing an additional 750 shares during the last quarter. Huntington National Bank acquired a new position in Interface during the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its stake in Interface by 78.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker's stock valued at $30,000 after purchasing an additional 546 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of Interface by 103.1% during the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker's stock valued at $36,000 after acquiring an additional 741 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Interface by 163.5% in the 4th quarter. US Bancorp DE now owns 2,398 shares of the textile maker's stock worth $58,000 after purchasing an additional 1,488 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Stock Up 0.6 %

NASDAQ TILE traded up $0.12 during trading hours on Monday, hitting $19.35. The company's stock had a trading volume of 28,944 shares, compared to its average volume of 527,459. The company has a market capitalization of $1.13 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93. 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, Inc. has a 52 week low of $14.13 and a 52 week high of $27.34. The company's 50-day simple moving average is $19.07 and its two-hundred day simple moving average is $22.16.

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 (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The business had revenue of $297.41 million during 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%. Interface's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. Research analysts anticipate that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders 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 dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, March 28th. Interface's dividend payout ratio is currently 2.72%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TILE shares. Barrington Research reiterated an "outperform" rating and issued a $30.00 price objective on shares of Interface in a report on Friday. StockNews.com upgraded Interface from a "hold" rating to a "buy" rating in a research report on Monday, April 28th.

Insider Transactions at Interface

In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of the business's stock in a transaction 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 in the company, valued at $1,918,132.65. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.

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.