Short Interest in Interface, Inc. (NASDAQ:TILE) Grows By 24.8%

Interface, Inc. (NASDAQ:TILE) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,860,000 shares, a growth of 24.8% from the August 15th total of 1,490,000 shares. Based on an average daily volume of 441,400 shares, the short-interest ratio is presently 4.2 days. Currently, 3.3% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TILE shares. Barrington Research reiterated an “outperform” rating and set a $22.00 price target on shares of Interface in a report on Friday, August 2nd. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.

Interface Trading Up 3.6 %

Shares of NASDAQ TILE opened at $18.87 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.45 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.10 billion, a PE ratio of 18.68, a PEG ratio of 0.94 and a beta of 1.98. Interface has a twelve month low of $8.26 and a twelve month high of $19.15. The stock has a fifty day simple moving average of $17.16 and a 200-day simple moving average of $16.15.

Interface (NASDAQ:TILE) last released its earnings results on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. The company had revenue of $346.60 million during the quarter, compared to the consensus estimate of $340.21 million. Interface had a return on equity of 18.42% and a net margin of 5.20%. Interface’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. On average, equities analysts forecast that Interface will post 1.28 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, August 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. Interface’s dividend payout ratio (DPR) is presently 3.96%.

Insider Activity

In other Interface news, VP Stansfield Nigel sold 17,500 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $16.44, for a total transaction of $287,700.00. Following the transaction, the vice president now owns 164,355 shares of the company’s stock, valued at $2,701,996.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Interface news, VP Stansfield Nigel sold 17,500 shares of Interface stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $16.44, for a total transaction of $287,700.00. Following the transaction, the vice president now directly owns 164,355 shares of the company’s stock, valued at $2,701,996.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel T. Hendrix sold 10,347 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $14.43, for a total transaction of $149,307.21. Following the completion of the sale, the director now directly owns 248,300 shares of the company’s stock, valued at approximately $3,582,969. The disclosure for this sale can be found here. Insiders sold 125,858 shares of company stock worth $2,091,604 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Interface

Institutional investors have recently modified their holdings of the business. Hennessy Advisors Inc. purchased a new position in Interface in the second quarter valued at $7,430,000. American Century Companies Inc. boosted its stake in shares of Interface by 22.3% in the 2nd quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after buying an additional 285,353 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Interface by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after buying an additional 247,350 shares in the last quarter. Gendell Jeffrey L increased its stake in shares of Interface by 1,041.8% during the first quarter. Gendell Jeffrey L now owns 250,363 shares of the textile maker’s stock worth $4,211,000 after buying an additional 228,435 shares during the period. Finally, Algert Global LLC acquired a new stake in Interface in the second quarter valued at approximately $1,828,000. Institutional investors and hedge funds own 98.34% 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.