Interface, Inc. (TILE) Stake Lowered by Kennedy Capital Management Inc.
Kennedy Capital Management Inc. reduced its holdings in Interface, Inc. (NASDAQ:TILE) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,176 shares of the textile maker’s stock after selling 13,519 shares during the quarter. Kennedy Capital Management Inc. owned approximately 0.49% of Interface worth $6,056,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Interface by 144,783.3% in the 1st quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock worth $148,876,000 after acquiring an additional 7,809,612 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Interface by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,788,939 shares of the textile maker’s stock worth $110,280,000 after acquiring an additional 271,658 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Interface by 1.2% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,783,501 shares of the textile maker’s stock worth $54,696,000 after acquiring an additional 33,596 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Interface by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,439,985 shares of the textile maker’s stock worth $46,481,000 after acquiring an additional 94,970 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Interface by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,112,169 shares of the textile maker’s stock worth $41,504,000 after acquiring an additional 36,699 shares in the last quarter. 93.36% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on TILE shares. ValuEngine raised Interface from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. BidaskClub raised Interface from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $19.00 price objective on shares of Interface in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $19.00.
In other Interface news, Director Daniel T. Hendrix sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $19.74, for a total value of $118,440.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Stansfield Nigel sold 8,450 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $19.26, for a total transaction of $162,747.00. The disclosure for this sale can be found here. Insiders sold 26,450 shares of company stock worth $509,547 in the last 90 days. Company insiders own 1.90% of the company’s stock.
Interface, Inc. (TILE) opened at 20.40 on Wednesday. Interface, Inc. has a 12-month low of $14.59 and a 12-month high of $21.05. The firm’s 50-day moving average price is $19.00 and its 200 day moving average price is $19.30. The firm has a market cap of $1.26 billion, a P/E ratio of 26.25 and a beta of 1.19.
Interface (NASDAQ:TILE) last issued its earnings results on Wednesday, July 26th. The textile maker reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Interface had a net margin of 5.21% and a return on equity of 19.66%. The firm had revenue of $251.70 million for the quarter, compared to analyst estimates of $254.94 million. During the same quarter last year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Analysts forecast that Interface, Inc. will post $1.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a $0.065 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $0.26 dividend on an annualized basis and a yield of 1.27%. This is a positive change from Interface’s previous quarterly dividend of $0.06. Interface’s dividend payout ratio (DPR) is currently 33.33%.
Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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