Hillsdale Investment Management Inc. Raises Stake in Interface, Inc. (NASDAQ:TILE)

Hillsdale Investment Management Inc. raised its position in Interface, Inc. (NASDAQ:TILE) by 0.4% in the fourth quarter, Holdings Channel reports. The fund owned 216,313 shares of the textile maker’s stock after buying an additional 900 shares during the period. Hillsdale Investment Management Inc.’s holdings in Interface were worth $5,267,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TILE. KBC Group NV lifted its position in shares of Interface by 70.7% during the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after buying an additional 1,438 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Interface by 0.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 325,250 shares of the textile maker’s stock worth $6,170,000 after buying an additional 2,423 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Interface during the 3rd quarter worth approximately $611,000. Intech Investment Management LLC purchased a new stake in shares of Interface during the 3rd quarter worth approximately $356,000. Finally, Foundry Partners LLC purchased a new stake in shares of Interface during the 3rd quarter worth approximately $4,308,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Stock Performance

Shares of Interface stock opened at $19.74 on Friday. The firm’s fifty day simple moving average is $21.86 and its 200-day simple moving average is $22.04. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.96 and a beta of 2.18. Interface, Inc. has a 12 month low of $14.13 and a 12 month high of $27.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38.

Interface (NASDAQ:TILE) last announced its earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. As a group, equities analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.04 annualized dividend and a yield of 0.20%. Interface’s dividend payout ratio is currently 2.72%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Interface in a report on Tuesday, February 25th.

Insider Buying and Selling at Interface

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total value of $297,250.00. Following the transaction, the director now directly owns 103,647 shares of the company’s stock, valued at approximately $2,464,725.66. The trade was a 10.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 32,500 shares of company stock valued at $748,125. 2.60% of the stock is owned by company insiders.

Interface Company 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.