Sanctuary Advisors LLC Acquires New Stake in Interface, Inc. (NASDAQ:TILE)

Sanctuary Advisors LLC bought a new position in shares of Interface, Inc. (NASDAQ:TILE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 87,566 shares of the textile maker’s stock, valued at approximately $1,661,000. Sanctuary Advisors LLC owned approximately 0.15% of Interface at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Legato Capital Management LLC purchased a new stake in Interface during the 2nd quarter worth approximately $814,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Interface by 13.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock worth $218,000 after acquiring an additional 1,770 shares during the period. Panagora Asset Management Inc. boosted its holdings in Interface by 7.5% in the second quarter. Panagora Asset Management Inc. now owns 291,348 shares of the textile maker’s stock valued at $4,277,000 after purchasing an additional 20,243 shares during the period. Innealta Capital LLC purchased a new position in shares of Interface in the 2nd quarter valued at about $32,000. Finally, Range Financial Group LLC increased its holdings in Interface by 5.2% in the second quarter. Range Financial Group LLC now owns 42,933 shares of the textile maker’s stock valued at $630,000 after buying an additional 2,118 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Interface Stock Up 0.9 %

TILE opened at $24.65 on Friday. The business has a 50 day moving average price of $23.53 and a two-hundred day moving average price of $19.15. Interface, Inc. has a 52 week low of $11.48 and a 52 week high of $27.34. The company has a market cap of $1.44 billion, a PE ratio of 17.24, a P/E/G ratio of 1.29 and a beta of 2.09. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66.

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

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.04 annualized dividend and a yield of 0.16%. Interface’s dividend payout ratio is currently 2.80%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barrington Research raised their price target on Interface from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 18,000 shares of the 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 completion of the transaction, the director now owns 153,147 shares in the company, valued at approximately $4,032,360.51. This represents a 10.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David B. Foshee sold 15,175 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total value of $398,647.25. Following the completion of the sale, the vice president now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 83,175 shares of company stock worth $2,119,987 over the last 90 days. Company insiders own 2.60% of the company’s stock.

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.