Interface, Inc. (NASDAQ:TILE) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury raised its position in Interface, Inc. (NASDAQ:TILE - Free Report) by 50.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,123 shares of the textile maker's stock after purchasing an additional 17,465 shares during the quarter. State of Tennessee Department of Treasury owned about 0.09% of Interface worth $1,269,000 as of its most recent SEC filing.

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

Interface Price Performance

Shares of TILE stock traded up $0.38 during midday trading on Friday, reaching $19.23. 520,625 shares of the company traded hands, compared to its average volume of 514,792. The firm's 50 day simple moving average is $19.07 and its two-hundred day simple moving average is $22.15. The firm has a market cap of $1.12 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface, Inc. has a 1-year low of $14.13 and a 1-year high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last issued 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. The firm had revenue of $297.41 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. On average, equities research analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.04 annualized dividend and a yield of 0.21%. Interface's dividend payout ratio (DPR) is currently 2.72%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TILE. StockNews.com upgraded Interface from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Barrington Research reaffirmed an "outperform" rating and set a $30.00 price target on shares of Interface in a research note on Friday.

Insiders Place Their Bets

In related news, Director Daniel T. Hendrix sold 7,500 shares of the company'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 owns 96,147 shares of the company's stock, valued at approximately $1,918,132.65. This represents a 7.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.