Interface, Inc. (NASDAQ:TILE) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its stake in shares of Interface, Inc. (NASDAQ:TILE) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 774,402 shares of the textile maker’s stock after selling 76,521 shares during the period. Arrowstreet Capital Limited Partnership owned 1.33% of Interface worth $18,857,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pictet Asset Management Holding SA purchased a new position in shares of Interface in the fourth quarter valued at approximately $274,000. JPMorgan Chase & Co. boosted its stake in Interface by 139.0% during the 4th quarter. JPMorgan Chase & Co. now owns 308,884 shares of the textile maker’s stock worth $7,521,000 after purchasing an additional 179,620 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Interface by 25.9% during the fourth quarter. Prudential Financial Inc. now owns 676,030 shares of the textile maker’s stock worth $16,461,000 after buying an additional 139,150 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Interface by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker’s stock worth $148,936,000 after buying an additional 246,726 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its position in shares of Interface by 44.8% in the fourth quarter. Fox Run Management L.L.C. now owns 41,223 shares of the textile maker’s stock valued at $1,004,000 after buying an additional 12,755 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Interface Trading Down 2.6 %

Shares of TILE opened at $18.37 on Friday. Interface, Inc. has a 12-month low of $14.13 and a 12-month high of $27.34. The firm has a market capitalization of $1.07 billion, a P/E ratio of 12.85, a P/E/G ratio of 0.96 and a beta of 2.18. The firm has a 50-day moving average price of $21.01 and a 200 day moving average price of $22.15. 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 quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $335.00 million during the quarter, compared to the consensus estimate of $340.51 million. During the same quarter last year, the firm earned $0.41 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, March 28th. Interface’s dividend payout ratio is presently 2.72%.

Insider Buying and Selling

In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of the stock in a transaction dated 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 owns 96,147 shares of the company’s stock, valued at $1,918,132.65. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

TILE has been the subject of several research reports. Barrington Research reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Interface in a research note on Tuesday, February 25th. StockNews.com downgraded 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.