Jennison Associates LLC Increases Stock Position in Interface, Inc. (NASDAQ:TILE)

Jennison Associates LLC increased its position in Interface, Inc. (NASDAQ:TILE - Free Report) by 103.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,494 shares of the textile maker's stock after acquiring an additional 33,264 shares during the period. Jennison Associates LLC owned about 0.11% of Interface worth $1,595,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in Interface by 499.5% in the 3rd quarter. Quarry LP now owns 2,476 shares of the textile maker's stock worth $47,000 after acquiring an additional 2,063 shares during the last quarter. National Bank of Canada FI raised its holdings in Interface by 33.7% in the 3rd quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker's stock worth $64,000 after acquiring an additional 856 shares during the last quarter. KBC Group NV raised its holdings in Interface by 70.7% in the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker's stock worth $66,000 after acquiring an additional 1,438 shares during the last quarter. nVerses Capital LLC purchased a new position in Interface in the 3rd quarter worth approximately $70,000. Finally, GAMMA Investing LLC raised its holdings in Interface by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker's stock worth $94,000 after acquiring an additional 578 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barrington Research reiterated an "outperform" rating and set a $30.00 target price on shares of Interface in a research note on Tuesday, January 28th. StockNews.com lowered shares of Interface from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th.

Interface Price Performance

Shares of TILE opened at $23.57 on Friday. The firm has a market cap of $1.37 billion, a PE ratio of 16.48, a P/E/G ratio of 1.06 and a beta of 2.10. 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 firm has a fifty day simple moving average of $24.80 and a two-hundred day simple moving average of $21.36. Interface, Inc. has a 1-year low of $12.56 and a 1-year high of $27.34.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders 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 dividend yield of 0.17%. The ex-dividend date was Friday, November 29th. Interface's payout ratio is 2.80%.

Insider Activity

In other news, Director Daniel T. Hendrix sold 12,500 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total transaction of $301,250.00. Following the completion of the sale, the director now owns 116,147 shares of the company's stock, valued at $2,799,142.70. The trade was a 9.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David B. Foshee sold 15,175 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total transaction of $398,647.25. Following the sale, the vice president now directly owns 202,398 shares of the company's stock, valued at approximately $5,316,995.46. The trade was a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,175 shares of company stock valued at $2,236,087 in the last 90 days. Company insiders own 2.60% of the company's stock.

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.

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