Interface, Inc. (TILE) Position Lowered by Isthmus Partners LLC
Isthmus Partners LLC lowered its stake in Interface, Inc. (NASDAQ:TILE) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,177 shares of the textile maker’s stock after selling 936 shares during the period. Isthmus Partners LLC owned approximately 0.07% of Interface worth $868,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of Interface in the first quarter worth $106,000. Victory Capital Management Inc. increased its position in shares of Interface by 38.3% in the first quarter. Victory Capital Management Inc. now owns 6,671 shares of the textile maker’s stock worth $127,000 after purchasing an additional 1,849 shares during the period. KBC Group NV bought a new position in shares of Interface in the second quarter worth $133,000. Trust Co. of Vermont increased its position in shares of Interface by 34.6% in the second quarter. Trust Co. of Vermont now owns 11,345 shares of the textile maker’s stock worth $223,000 after purchasing an additional 2,915 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Interface by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 12,587 shares of the textile maker’s stock worth $247,000 after purchasing an additional 5,497 shares during the period. Institutional investors own 93.21% of the company’s stock.
Interface, Inc. (TILE) traded up 0.620% during mid-day trading on Tuesday, reaching $20.275. The company had a trading volume of 32,307 shares. The stock has a 50 day moving average price of $19.18 and a 200-day moving average price of $19.34. The stock has a market capitalization of $1.25 billion, a P/E ratio of 26.094 and a beta of 1.19. Interface, Inc. has a 12-month low of $14.59 and a 12-month high of $21.05.
Interface (NASDAQ:TILE) last announced its earnings results on Wednesday, July 26th. The textile maker reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $251.70 million for the quarter, compared to analyst estimates of $254.94 million. Interface had a return on equity of 19.66% and a net margin of 5.21%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. Equities analysts anticipate that Interface, Inc. will post $1.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a $0.065 dividend. This is a boost from Interface’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Wednesday, August 9th. Interface’s dividend payout ratio is presently 33.33%.
Several analysts recently weighed in on the company. BidaskClub lowered Interface from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Interface in a research note on Friday, July 28th. Finally, ValuEngine raised Interface from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Interface presently has an average rating of “Hold” and a consensus target price of $19.00.
In other news, VP Stansfield Nigel sold 8,450 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $19.26, for a total value of $162,747.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel T. Hendrix sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $19.11, for a total value of $114,660.00. The disclosure for this sale can be found here. Insiders sold a total of 26,450 shares of company stock valued at $510,807 over the last quarter. Company insiders own 1.90% of the company’s stock.
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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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