Jennison Associates LLC Invests $611,000 in Interface, Inc. (NASDAQ:TILE)

Jennison Associates LLC purchased a new position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,230 shares of the textile maker's stock, valued at approximately $611,000. Jennison Associates LLC owned approximately 0.06% of Interface at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new stake in Interface in the 2nd quarter valued at $7,430,000. American Century Companies Inc. boosted its stake in shares of Interface by 22.3% in the 2nd quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker's stock valued at $22,951,000 after purchasing an additional 285,353 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Interface by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker's stock worth $39,507,000 after purchasing an additional 247,350 shares during the last quarter. Algert Global LLC bought a new stake in shares of Interface in the 2nd quarter worth about $1,828,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Interface by 57.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 336,736 shares of the textile maker's stock worth $5,664,000 after purchasing an additional 122,249 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Interface

In other news, CFO Bruce Andrew Hausmann sold 30,000 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $25.50, for a total transaction of $765,000.00. Following the completion of the transaction, the chief financial officer now directly owns 168,475 shares in the company, valued at approximately $4,296,112.50. The trade was a 15.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stansfield Nigel sold 20,000 shares of the 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 completion of the sale, the vice president now owns 144,355 shares in the company, valued at $3,481,842.60. This represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Interface Price Performance

TILE traded up $1.14 during midday trading on Monday, hitting $26.60. The company had a trading volume of 570,752 shares, compared to its average volume of 454,844. Interface, Inc. has a twelve month low of $9.87 and a twelve month high of $26.61. The firm's 50-day simple moving average is $20.80 and its 200-day simple moving average is $17.89. The company has a market capitalization of $1.55 billion, a PE ratio of 18.60, a P/E/G ratio of 1.24 and a beta of 1.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate 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%. Interface's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS. Equities research analysts predict that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

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

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.