Hood River Capital Management LLC Takes $28.90 Million Position in Interface, Inc. (NASDAQ:TILE)

Hood River Capital Management LLC bought a new position in Interface, Inc. (NASDAQ:TILE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,186,750 shares of the textile maker's stock, valued at approximately $28,897,000. Hood River Capital Management LLC owned approximately 2.04% of Interface at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Interface by 2.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 59,340 shares of the textile maker's stock valued at $1,445,000 after acquiring an additional 1,483 shares during the period. State of Tennessee Department of Treasury increased its position in shares of Interface by 50.4% during the 4th quarter. State of Tennessee Department of Treasury now owns 52,123 shares of the textile maker's stock worth $1,269,000 after purchasing an additional 17,465 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Interface by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 35,093 shares of the textile maker's stock valued at $855,000 after purchasing an additional 1,905 shares during the last quarter. Marshall Wace LLP boosted its position in Interface by 16.8% in the fourth quarter. Marshall Wace LLP now owns 49,866 shares of the textile maker's stock valued at $1,214,000 after buying an additional 7,167 shares in the last quarter. Finally, Mariner LLC grew its stake in Interface by 12.7% during the fourth quarter. Mariner LLC now owns 25,898 shares of the textile maker's stock worth $631,000 after buying an additional 2,913 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.

Insider Transactions at Interface

In related news, Director Daniel T. Hendrix sold 7,500 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $1,918,132.65. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on TILE. Barrington Research reissued an "outperform" rating and issued a $30.00 target price on shares of Interface in a report on Tuesday, April 15th. StockNews.com lowered Interface from a "buy" rating to a "hold" rating in a research note on Friday, April 18th.

Interface Price Performance

TILE opened at $18.17 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The company's 50 day simple moving average is $19.58 and its 200-day simple moving average is $22.15. Interface, Inc. has a one year low of $14.13 and a one year high of $27.34. The stock has a market capitalization of $1.06 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93.

Interface (NASDAQ:TILE - Get Free Report) last released its earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 earnings per share. Sell-side analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Friday, March 28th. Interface's dividend payout ratio (DPR) is currently 2.72%.

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.

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