Prudential Financial Inc. Grows Position in Interface, Inc. (NASDAQ:TILE)

Prudential Financial Inc. boosted its holdings in Interface, Inc. (NASDAQ:TILE) by 25.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 676,030 shares of the textile maker’s stock after buying an additional 139,150 shares during the quarter. Prudential Financial Inc. owned 1.16% of Interface worth $16,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TILE. Smartleaf Asset Management LLC raised its holdings in shares of Interface by 78.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 546 shares during the last quarter. GAMMA Investing LLC grew its position in Interface by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker’s stock worth $94,000 after purchasing an additional 578 shares during the period. Principal Securities Inc. raised its stake in Interface by 103.1% during the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock valued at $36,000 after buying an additional 741 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Interface by 204.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock valued at $27,000 after buying an additional 750 shares during the period. Finally, National Bank of Canada FI boosted its stake in shares of Interface by 33.7% in the 3rd quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock worth $64,000 after buying an additional 856 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Insiders Place Their Bets

In other news, Director Daniel T. Hendrix sold 7,500 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $19.95, for a total value of $149,625.00. Following the completion of the sale, the director now directly owns 96,147 shares of the company’s stock, valued at $1,918,132.65. This represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 32,500 shares of company stock worth $748,125. Company insiders own 2.60% of the company’s stock.

Interface Stock Up 0.7 %

TILE opened at $20.38 on Friday. The firm’s 50 day simple moving average is $21.59 and its two-hundred day simple moving average is $22.10. The company has a market capitalization of $1.19 billion, a PE ratio of 14.25, a PEG ratio of 0.96 and a beta of 2.18. Interface, Inc. has a 1-year low of $14.13 and a 1-year high of $27.34. 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 (NASDAQ:TILE) last announced its earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. During the same period last year, the firm earned $0.41 EPS. Interface’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TILE shares. Barrington Research reiterated an “outperform” rating and set a $30.00 price objective on shares of Interface in a research report on Tuesday, February 25th. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th.

About Interface

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.