Cornercap Investment Counsel Inc. Sells 19,434 Shares of Interface, Inc. (NASDAQ:TILE)

Cornercap Investment Counsel Inc. lessened its stake in shares of Interface, Inc. (NASDAQ:TILE) by 53.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,152 shares of the textile maker’s stock after selling 19,434 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Interface were worth $325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Interface during the 2nd quarter worth about $32,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Interface during the 1st quarter valued at about $57,000. KBC Group NV increased its stake in shares of Interface by 70.7% in the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 1,438 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Interface in the 3rd quarter valued at about $70,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Interface in the 2nd quarter valued at about $91,000. Institutional investors own 98.34% of the company’s stock.

Interface Stock Down 1.5 %

Shares of NASDAQ TILE opened at $24.99 on Monday. The stock has a market cap of $1.46 billion, a P/E ratio of 17.48, a PEG ratio of 1.22 and a beta of 1.97. 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 12-month low of $9.78 and a 12-month high of $26.11. The business’s fifty day simple moving average is $19.93 and its 200-day simple moving average is $17.48.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. The company had revenue of $344.30 million for the quarter, compared to analysts’ expectations of $336.39 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. Interface’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. As a group, equities analysts predict that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Daniel T. Hendrix sold 3,555 shares of Interface stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total transaction of $62,319.15. Following the completion of the sale, the director now directly owns 191,147 shares in the company, valued at approximately $3,350,806.91. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stansfield Nigel sold 20,000 shares of Interface stock in a transaction that occurred 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 sale, the vice president now owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barrington Research increased their target price on Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th.

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.