Pzena Investment Management LLC Sells 306,250 Shares of Interface, Inc. (NASDAQ:TILE)

Pzena Investment Management LLC reduced its position in shares of Interface, Inc. (NASDAQ:TILE) by 96.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,049 shares of the textile maker’s stock after selling 306,250 shares during the period. Pzena Investment Management LLC’s holdings in Interface were worth $269,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Interface by 0.6% in the 3rd quarter. State Street Corp now owns 2,232,327 shares of the textile maker’s stock worth $42,347,000 after buying an additional 13,686 shares during the period. Geode Capital Management LLC raised its holdings in shares of Interface by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,371,976 shares of the textile maker’s stock valued at $26,031,000 after acquiring an additional 11,931 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in Interface by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 608,900 shares of the textile maker’s stock worth $14,827,000 after acquiring an additional 38,900 shares during the period. Segall Bryant & Hamill LLC lifted its stake in Interface by 0.8% in the third quarter. Segall Bryant & Hamill LLC now owns 325,250 shares of the textile maker’s stock worth $6,170,000 after acquiring an additional 2,423 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Interface by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 315,596 shares of the textile maker’s stock valued at $7,685,000 after acquiring an additional 11,546 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Daniel T. Hendrix sold 7,500 shares of Interface stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $19.95, for a total transaction of $149,625.00. Following the completion of the transaction, the director now directly owns 96,147 shares in the company, valued at approximately $1,918,132.65. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 32,500 shares of company stock worth $748,125. 2.60% of the stock is currently owned by company insiders.

Interface Trading Up 1.0 %

NASDAQ TILE opened at $18.88 on Wednesday. The firm has a market capitalization of $1.10 billion, a PE ratio of 13.20, a P/E/G ratio of 0.96 and a beta of 2.18. The stock’s 50 day moving average is $22.55 and its 200 day moving average is $22.05. Interface, Inc. has a twelve month low of $14.13 and a twelve month high of $27.34. 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 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 firm 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 quarter in the previous year, the business posted $0.41 EPS. Research analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Interface 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.