Millstone Evans Group LLC Acquires New Shares in Interface, Inc. (NASDAQ:TILE)

Millstone Evans Group LLC acquired a new stake in shares of Interface, Inc. (NASDAQ:TILE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,455 shares of the textile maker’s stock, valued at approximately $108,000.

Several other hedge funds also recently modified their holdings of TILE. Venturi Wealth Management LLC raised its position in Interface by 204.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock worth $27,000 after purchasing an additional 750 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Interface by 78.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock worth $30,000 after purchasing an additional 546 shares during the last quarter. Principal Securities Inc. raised its position in Interface by 103.1% during the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after purchasing an additional 741 shares during the last quarter. Quarry LP raised its position in Interface by 499.5% during the 3rd quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock worth $47,000 after purchasing an additional 2,063 shares during the last quarter. Finally, US Bancorp DE raised its position in Interface by 163.5% during the 4th quarter. US Bancorp DE now owns 2,398 shares of the textile maker’s stock worth $58,000 after purchasing an additional 1,488 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analysts Set New Price Targets

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

Interface Stock Performance

TILE stock opened at $19.74 on Friday. The stock has a 50-day moving average price of $21.86 and a 200-day moving average price of $22.06. 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. The firm has a market cap of $1.15 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18.

Interface (NASDAQ:TILE) last issued its earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The company had revenue of $335.00 million during the quarter, compared to the consensus estimate of $340.51 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $0.41 EPS. As a group, equities research analysts expect that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

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

Insider Activity

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total transaction of $301,250.00. Following the completion of the transaction, the director now owns 116,147 shares in the company, valued at approximately $2,799,142.70. The trade was a 9.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 32,500 shares of company stock worth $748,125 in the last three months. Company insiders own 2.60% of the company’s stock.

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.