JPMorgan Chase & Co. Buys 179,620 Shares of Interface, Inc. (NASDAQ:TILE)

JPMorgan Chase & Co. lifted its holdings in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 139.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,884 shares of the textile maker's stock after buying an additional 179,620 shares during the quarter. JPMorgan Chase & Co. owned about 0.53% of Interface worth $7,521,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TILE. Prudential Financial Inc. grew its stake in Interface by 25.9% during the fourth quarter. Prudential Financial Inc. now owns 676,030 shares of the textile maker's stock valued at $16,461,000 after acquiring an additional 139,150 shares in the last quarter. Vanguard Group Inc. boosted its stake in Interface by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker's stock valued at $148,936,000 after buying an additional 246,726 shares during the period. Fox Run Management L.L.C. raised its holdings in shares of Interface by 44.8% in the 4th quarter. Fox Run Management L.L.C. now owns 41,223 shares of the textile maker's stock valued at $1,004,000 after acquiring an additional 12,755 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Interface during the 4th quarter valued at about $321,000. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of Interface by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 216,313 shares of the textile maker's stock worth $5,267,000 after purchasing an additional 900 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total value of $297,250.00. Following the sale, the director now owns 103,647 shares in the company, valued at $2,464,725.66. The trade was a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Interface from a "buy" rating to a "hold" rating in a report on Friday. Barrington Research restated an "outperform" rating and issued a $30.00 target price on shares of Interface in a research report on Tuesday, April 15th.

Interface Trading Down 4.0 %

NASDAQ:TILE traded down $0.74 during trading hours on Monday, reaching $17.84. The company's stock had a trading volume of 87,408 shares, compared to its average volume of 517,261. The firm has a 50-day simple moving average of $19.77 and a 200-day simple moving average of $22.18. 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, Inc. has a 1 year low of $14.13 and a 1 year high of $27.34. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.96 and a beta of 1.93.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. The business had revenue of $335.00 million for the quarter, compared to analyst estimates of $340.51 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. Interface's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. Research analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. Interface's dividend payout ratio is presently 2.72%.

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.