Jacobs Levy Equity Management Inc. Has $3.78 Million Stock Position in Interface, Inc. (NASDAQ:TILE)

Jacobs Levy Equity Management Inc. trimmed its stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 52.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 199,427 shares of the textile maker's stock after selling 222,814 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.34% of Interface worth $3,783,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in Interface in the 2nd quarter valued at $32,000. KBC Group NV lifted its position in shares of Interface by 70.7% during the third 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. nVerses Capital LLC purchased a new position in Interface in the 3rd quarter valued at about $70,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Interface by 174.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,934 shares of the textile maker's stock valued at $113,000 after purchasing an additional 3,770 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Interface by 1,348.0% during the third quarter. Farther Finance Advisors LLC now owns 6,241 shares of the textile maker's stock worth $118,000 after buying an additional 5,810 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Interface news, Director Daniel T. Hendrix sold 18,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total value of $473,940.00. Following the transaction, the director now directly owns 153,147 shares of the company's stock, valued at $4,032,360.51. This represents a 10.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Stansfield Nigel sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total transaction of $482,400.00. Following the transaction, the vice president now directly owns 144,355 shares in the company, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,175 shares of company stock worth $2,119,987 over the last quarter. Corporate insiders own 2.60% of the company's stock.

Interface Price Performance

Shares of TILE stock traded up $0.48 during mid-day trading on Friday, hitting $26.52. 222,810 shares of the stock traded hands, compared to its average volume of 401,308. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.29 and a beta of 2.09. The company's 50-day simple moving average is $22.21 and its 200-day simple moving average is $18.52. Interface, Inc. has a twelve month low of $10.75 and a twelve month high of $27.34.

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

Interface Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. Interface's dividend payout ratio is currently 2.80%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TILE. Barrington Research boosted their price objective on Interface from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, November 1st. StockNews.com lowered shares of Interface from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th.

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.