Pacad Investment Ltd. grew its stake in shares of Interface, Inc. (NASDAQ:TILE) by 23.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 19,200 shares of the textile maker’s stock after acquiring an additional 3,700 shares during the period. Pacad Investment Ltd.’s holdings in Interface were worth $377,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in shares of Interface by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,846 shares of the textile maker’s stock worth $154,000 after acquiring an additional 1,175 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of Interface by 1.2% in the second quarter. Federated Investors Inc. PA now owns 50,004 shares of the textile maker’s stock worth $983,000 after acquiring an additional 600 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Interface by 17.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 61,176 shares of the textile maker’s stock worth $1,202,000 after acquiring an additional 9,252 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Interface by 7.0% in the second quarter. William Blair Investment Management LLC now owns 1,358,827 shares of the textile maker’s stock worth $26,701,000 after acquiring an additional 88,687 shares during the last quarter. Finally, Turner Investments LLC acquired a new position in shares of Interface in the second quarter worth $275,000. Institutional investors own 93.36% of the company’s stock.
Shares of Interface, Inc. (NASDAQ TILE) opened at 20.10 on Friday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 25.87 and a beta of 1.19. Interface, Inc. has a one year low of $14.59 and a one year high of $21.05. The company has a 50 day moving average of $19.13 and a 200-day moving average of $19.33.
Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, July 26th. The textile maker reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $251.70 million for the quarter, compared to analysts’ expectations of $254.94 million. Interface had a net margin of 5.21% and a return on equity of 19.66%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. On average, analysts expect that Interface, Inc. will post $1.14 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 1.29%. This is a positive change from Interface’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, August 9th. Interface’s dividend payout ratio is currently 33.33%.
Several research firms have commented on TILE. ValuEngine downgraded Interface from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.00 price target on shares of Interface in a research report on Friday, July 28th. Finally, BidaskClub cut shares of Interface from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $19.00.
In other Interface news, Director Daniel T. Hendrix sold 6,000 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $18.95, for a total transaction of $113,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stansfield Nigel sold 8,450 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $19.26, for a total transaction of $162,747.00. The disclosure for this sale can be found here. Insiders sold a total of 20,450 shares of company stock valued at $391,107 over the last three months. 1.90% of the stock is currently owned by insiders.
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Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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