Algert Global LLC Raises Stake in Interface, Inc. (NASDAQ:TILE)

Algert Global LLC lifted its position in shares of Interface, Inc. (NASDAQ:TILE) by 54.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 192,071 shares of the textile maker’s stock after buying an additional 67,539 shares during the quarter. Algert Global LLC’s holdings in Interface were worth $3,644,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Interface by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,298,736 shares of the textile maker’s stock worth $89,125,000 after purchasing an additional 43,184 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Interface by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock worth $42,469,000 after buying an additional 31,224 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Interface by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock valued at $39,507,000 after buying an additional 247,350 shares during the period. American Century Companies Inc. increased its stake in shares of Interface by 22.3% during the 2nd quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after acquiring an additional 285,353 shares during the last quarter. Finally, Meros Investment Management LP lifted its holdings in shares of Interface by 1.5% during the 2nd quarter. Meros Investment Management LP now owns 698,305 shares of the textile maker’s stock worth $10,251,000 after acquiring an additional 10,616 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Trading Up 4.5 %

NASDAQ TILE opened at $26.60 on Tuesday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.24 and a beta of 1.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. Interface, Inc. has a one year low of $9.87 and a one year high of $26.61. The company’s 50 day moving average price is $20.80 and its 200 day moving average price is $17.89.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $344.30 million for the quarter, compared to the consensus estimate of $336.39 million. During the same quarter last year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. Interface’s dividend payout ratio (DPR) is currently 2.80%.

Insider Activity at Interface

In related news, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total transaction of $482,400.00. Following the completion of the sale, the vice president now directly owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. This trade represents a 12.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of Interface stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total transaction of $765,000.00. Following the sale, the chief financial officer now directly owns 168,475 shares in the company, valued at $4,296,112.50. This trade represents a 15.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Barrington Research upped their price objective on Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

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.