60,073 Shares in Interface, Inc. (NASDAQ:TILE) Bought by HighTower Advisors LLC

HighTower Advisors LLC purchased a new position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,073 shares of the textile maker's stock, valued at approximately $1,138,000. HighTower Advisors LLC owned about 0.10% of Interface at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TILE. Private Advisor Group LLC purchased a new position in shares of Interface during the 3rd quarter worth approximately $790,000. Renaissance Technologies LLC raised its position in Interface by 11.0% in the second quarter. Renaissance Technologies LLC now owns 345,400 shares of the textile maker's stock worth $5,070,000 after acquiring an additional 34,200 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in Interface by 46.5% in the second quarter. First Eagle Investment Management LLC now owns 176,617 shares of the textile maker's stock valued at $2,593,000 after acquiring an additional 56,093 shares during the period. Victory Capital Management Inc. lifted its holdings in Interface by 107.2% in the second quarter. Victory Capital Management Inc. now owns 182,620 shares of the textile maker's stock valued at $2,681,000 after acquiring an additional 94,499 shares during the period. Finally, KBC Group NV boosted its position in shares of Interface by 70.7% during the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker's stock worth $66,000 after purchasing an additional 1,438 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TILE. Barrington Research increased their price target on shares of Interface from $26.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. StockNews.com lowered Interface from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th.

Insider Buying and Selling

In other Interface news, VP David B. Foshee sold 15,175 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total value of $398,647.25. Following the completion of the sale, the vice president now owns 202,398 shares of the company's stock, valued at $5,316,995.46. This trade represents a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel T. Hendrix sold 18,000 shares of Interface stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $26.33, for a total transaction of $473,940.00. Following the sale, the director now owns 153,147 shares in the company, valued at $4,032,360.51. This represents a 10.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,175 shares of company stock valued at $2,119,987. 2.60% of the stock is currently owned by corporate insiders.

Interface Trading Down 1.4 %

Shares of Interface stock traded down $0.36 during mid-day trading on Tuesday, hitting $25.75. 620,679 shares of the stock were exchanged, compared to its average volume of 454,586. The company has a 50-day simple moving average of $23.29 and a 200 day simple moving average of $19.07. 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 stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.29 and a beta of 2.09. Interface, Inc. has a twelve month low of $11.48 and a twelve month high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last released its earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.14. The firm had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. Interface's revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. Research analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Friday, November 29th. Interface's dividend payout ratio (DPR) is presently 2.80%.

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.