Arrowstreet Capital Limited Partnership Sells 76,521 Shares of Interface, Inc. (NASDAQ:TILE)

Arrowstreet Capital Limited Partnership lowered its position in Interface, Inc. (NASDAQ:TILE - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 774,402 shares of the textile maker's stock after selling 76,521 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.33% of Interface worth $18,857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TILE. Vanguard Group Inc. lifted its holdings in shares of Interface by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker's stock valued at $148,936,000 after purchasing an additional 246,726 shares in the last quarter. Barclays PLC boosted its holdings in shares of Interface by 688.5% in the third quarter. Barclays PLC now owns 256,987 shares of the textile maker's stock valued at $4,873,000 after buying an additional 224,395 shares during the period. Weiss Asset Management LP bought a new stake in shares of Interface during the third quarter worth $4,206,000. American Century Companies Inc. lifted its position in Interface by 12.3% in the 4th quarter. American Century Companies Inc. now owns 1,992,296 shares of the textile maker's stock valued at $48,512,000 after acquiring an additional 218,113 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings 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 in the last quarter. 98.34% of the stock is currently owned by institutional investors.

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Interface Stock Up 9.7 %

Shares of NASDAQ TILE traded up $1.72 during trading hours on Wednesday, hitting $19.51. The company had a trading volume of 557,794 shares, compared to its average volume of 519,538. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The firm's 50 day moving average is $20.40 and its 200-day moving average is $22.14. Interface, Inc. has a 1-year low of $14.13 and a 1-year high of $27.34. The stock has a market capitalization of $1.14 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93.

Interface (NASDAQ:TILE - Get Free Report) last issued its earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, beating 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 company had revenue of $335.00 million for the quarter, compared to analysts' expectations of $340.51 million. During the same period in the prior year, the firm earned $0.41 EPS. Interface's quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Friday, March 28th. Interface's dividend payout ratio (DPR) is presently 2.72%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TILE. StockNews.com lowered Interface from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Barrington Research restated an "outperform" rating and set a $30.00 target price on shares of Interface in a report on Tuesday, February 25th.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $19.95, for a total value of $149,625.00. Following the transaction, the director now directly owns 96,147 shares in the company, valued at $1,918,132.65. The trade was a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Interface Profile

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.