State of Tennessee Department of Treasury Has $1.27 Million Holdings in Interface, Inc. (NASDAQ:TILE)

State of Tennessee Department of Treasury raised its holdings in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 50.4% in the 4th quarter, according to the company in its most recent disclosure 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 period. State of Tennessee Department of Treasury owned about 0.09% of Interface worth $1,269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Barclays PLC grew its stake in Interface by 688.5% during the 3rd quarter. Barclays PLC now owns 256,987 shares of the textile maker's stock worth $4,873,000 after buying an additional 224,395 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Interface by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 89,576 shares of the textile maker's stock worth $1,735,000 after acquiring an additional 3,202 shares during the period. Principal Financial Group Inc. lifted its position in Interface by 5.8% in the 3rd quarter. Principal Financial Group Inc. now owns 304,050 shares of the textile maker's stock valued at $5,768,000 after purchasing an additional 16,624 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Interface by 22.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 129,264 shares of the textile maker's stock valued at $2,452,000 after purchasing an additional 23,447 shares during the period. Finally, GAMMA Investing LLC grew its position in Interface by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker's stock worth $94,000 after purchasing an additional 578 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Daniel T. Hendrix sold 7,500 shares of the business's stock in a transaction on Monday, March 3rd. The shares were 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 in the company, valued at approximately $1,918,132.65. The trade was a 7.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TILE shares. Barrington Research restated an "outperform" rating and set a $30.00 price target on shares of Interface in a research report on Friday. StockNews.com upgraded Interface from a "hold" rating to a "buy" rating in a report on Monday, April 28th.

Interface Stock Up 0.8 %

NASDAQ TILE traded up $0.15 on Tuesday, reaching $19.30. The stock had a trading volume of 26,557 shares, compared to its average volume of 512,318. 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 1 year low of $14.13 and a 1 year high of $27.34. The business has a 50 day moving average price of $19.06 and a 200 day moving average price of $22.16. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.96 and a beta of 1.95.

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

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Friday, March 28th. Interface's dividend payout ratio (DPR) is presently 2.76%.

Interface 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.