Suntrust Banks Inc. Sells 1,130 Shares of Interface, Inc. (TILE)
Suntrust Banks Inc. decreased its stake in Interface, Inc. (NASDAQ:TILE) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,514 shares of the textile maker’s stock after selling 1,130 shares during the quarter. Suntrust Banks Inc.’s holdings in Interface were worth $599,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. California Public Employees Retirement System boosted its holdings in Interface by 5.6% during the 2nd quarter. California Public Employees Retirement System now owns 160,900 shares of the textile maker’s stock valued at $3,162,000 after acquiring an additional 8,500 shares during the period. FMR LLC boosted its holdings in Interface by 14.8% during the 2nd quarter. FMR LLC now owns 2,452,630 shares of the textile maker’s stock valued at $48,194,000 after acquiring an additional 315,606 shares during the period. Pinebridge Investments L.P. boosted its holdings in Interface by 724.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 69,061 shares of the textile maker’s stock valued at $1,357,000 after acquiring an additional 60,683 shares during the period. GSA Capital Partners LLP boosted its holdings in Interface by 114.3% during the 2nd quarter. GSA Capital Partners LLP now owns 77,877 shares of the textile maker’s stock valued at $1,530,000 after acquiring an additional 41,539 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in Interface by 9.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,185 shares of the textile maker’s stock valued at $436,000 after acquiring an additional 1,880 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.
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Shares of Interface, Inc. (TILE) opened at 22.05 on Monday. The firm’s 50-day moving average price is $20.30 and its 200-day moving average price is $19.59. Interface, Inc. has a 12 month low of $14.59 and a 12 month high of $22.60. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 28.38 and a beta of 1.24.
Interface (NASDAQ:TILE) last released its quarterly earnings results on Wednesday, July 26th. The textile maker reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. Interface had a return on equity of 19.66% and a net margin of 5.21%. The business had revenue of $251.70 million during the quarter, compared to analyst estimates of $254.94 million. During the same period 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. Equities research analysts expect that Interface, Inc. will post $1.14 EPS for the current year.
A number of equities analysts recently issued reports on TILE shares. ValuEngine upgraded Interface from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Stifel Nicolaus restated a “hold” rating and set a $19.00 price objective on shares of Interface in a report on Friday, July 28th. Finally, BidaskClub upgraded Interface from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. One research analyst has 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. Interface presently has a consensus rating of “Hold” and a consensus price target of $19.00.
In related news, Director Daniel T. Hendrix sold 6,000 shares of Interface stock in a transaction on Monday, July 17th. The stock was sold at an average price of $18.95, for a total value of $113,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher G. Kennedy sold 29,500 shares of Interface stock in a transaction on Friday, September 29th. The shares were sold at an average price of $21.92, for a total value of $646,640.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,450 shares of company stock valued at $1,496,237. Company insiders own 1.90% of the company’s stock.
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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