Legato Capital Management LLC Sells 12,728 Shares of Interface, Inc. (NASDAQ:TILE)

Legato Capital Management LLC reduced its position in shares of Interface, Inc. (NASDAQ:TILE) by 23.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 42,720 shares of the textile maker’s stock after selling 12,728 shares during the quarter. Legato Capital Management LLC owned about 0.07% of Interface worth $1,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TILE. GAMMA Investing LLC lifted its position in Interface by 17.5% during the fourth quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 578 shares during the last quarter. National Bank of Canada FI raised its position in shares of Interface by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock valued at $64,000 after buying an additional 856 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Interface by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,103 shares of the textile maker’s stock valued at $324,000 after acquiring an additional 1,368 shares during the last quarter. KBC Group NV grew its position in Interface by 70.7% in the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after acquiring an additional 1,438 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in Interface by 1.6% during the third quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock worth $2,188,000 after acquiring an additional 1,767 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Interface Stock Performance

Interface stock opened at $22.20 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The firm has a market capitalization of $1.29 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.01 and a beta of 2.10. Interface, Inc. has a 1-year low of $12.67 and a 1-year high of $27.34. The company’s 50-day moving average is $24.52 and its 200 day moving average is $21.56.

Analyst Ratings Changes

TILE has been the subject of several analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Interface in a research note on Tuesday, January 28th. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th.

Insider Activity

In other Interface news, Director Daniel T. Hendrix sold 18,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total value of $473,940.00. Following the transaction, the director now owns 153,147 shares of the company’s stock, valued at $4,032,360.51. This represents a 10.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total value of $398,647.25. Following the sale, the vice president now owns 202,398 shares of the company’s stock, valued at approximately $5,316,995.46. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,175 shares of company stock valued at $2,236,087. 2.60% of the stock is currently owned by 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.