Public Sector Pension investment Board reduced its stake in Interface, Inc. (NASDAQ:TILE) by 29.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,189 shares of the textile maker’s stock after selling 13,700 shares during the period. Public Sector Pension investment Board owned 0.05% of Interface worth $652,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of TILE. BlackRock Inc. grew its holdings in shares of Interface by 144,783.3% during the first quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock valued at $148,876,000 after buying an additional 7,809,612 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Interface by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,788,939 shares of the textile maker’s stock worth $110,280,000 after purchasing an additional 271,658 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Interface by 1.2% during the second quarter. Frontier Capital Management Co. LLC now owns 2,783,501 shares of the textile maker’s stock worth $54,696,000 after purchasing an additional 33,596 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Interface by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,439,985 shares of the textile maker’s stock worth $46,481,000 after purchasing an additional 94,970 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Interface by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 2,112,169 shares of the textile maker’s stock valued at $41,504,000 after acquiring an additional 36,699 shares during the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.
In other Interface news, Director Christopher G. Kennedy sold 29,500 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $21.92, for a total value of $646,640.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel T. Hendrix sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $19.11, for a total value of $114,660.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,450 shares of company stock worth $1,382,537. Insiders own 1.90% of the company’s stock.
A number of research firms have weighed in on TILE. ValuEngine cut shares of Interface from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $19.00 target price on shares of Interface in a research note on Friday, July 28th. Finally, BidaskClub lowered shares of Interface from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $19.00.
Shares of Interface, Inc. (TILE) opened at 21.95 on Tuesday. Interface, Inc. has a 52 week low of $14.59 and a 52 week high of $22.60. The stock has a 50 day moving average of $20.79 and a 200-day moving average of $19.73. The stock has a market cap of $1.35 billion, a PE ratio of 28.25 and a beta of 1.24.
Interface (NASDAQ:TILE) last issued its quarterly earnings results 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. Interface had a net margin of 5.21% and a return on equity of 19.66%. The company had revenue of $251.70 million for the quarter, compared to the consensus estimate of $254.94 million. During the same quarter in the prior year, the company earned $0.32 EPS. Interface’s quarterly revenue was up 1.4% on a year-over-year basis. Equities research analysts predict that Interface, Inc. will post $1.13 earnings per share for the current fiscal year.
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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