First Eagle Investment Management LLC Acquires 56,093 Shares of Interface, Inc. (NASDAQ:TILE)

First Eagle Investment Management LLC raised its holdings in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 46.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,617 shares of the textile maker's stock after acquiring an additional 56,093 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.30% of Interface worth $2,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. ProShare Advisors LLC raised its holdings in Interface by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 11,576 shares of the textile maker's stock worth $195,000 after purchasing an additional 794 shares during the period. First Hawaiian Bank lifted its position in shares of Interface by 3.8% during the 1st quarter. First Hawaiian Bank now owns 36,890 shares of the textile maker's stock valued at $620,000 after buying an additional 1,353 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Interface by 13.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker's stock valued at $218,000 after acquiring an additional 1,770 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Interface by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,431 shares of the textile maker's stock valued at $916,000 after acquiring an additional 2,073 shares during the period. Finally, Range Financial Group LLC increased its holdings in Interface by 5.2% in the 2nd quarter. Range Financial Group LLC now owns 42,933 shares of the textile maker's stock worth $630,000 after acquiring an additional 2,118 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Wall Street Analysts Forecast Growth

TILE has been the topic of several analyst reports. Barrington Research reaffirmed an "outperform" rating and set a $22.00 price target on shares of Interface in a report on Friday. StockNews.com raised shares of Interface from a "buy" rating to a "strong-buy" rating in a report on Tuesday, August 6th.

Insider Buying and Selling at Interface

In related news, VP Stansfield Nigel sold 17,500 shares of Interface stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $16.44, for a total value of $287,700.00. Following the completion of the transaction, the vice president now owns 164,355 shares in the company, valued at $2,701,996.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Stansfield Nigel sold 17,500 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $16.44, for a total transaction of $287,700.00. Following the sale, the vice president now owns 164,355 shares in the company, valued at approximately $2,701,996.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel T. Hendrix sold 10,347 shares of the firm's stock in a transaction on Friday, July 5th. The stock was sold at an average price of $14.43, for a total value of $149,307.21. Following the completion of the sale, the director now owns 248,300 shares of the company's stock, valued at $3,582,969. The disclosure for this sale can be found here. Insiders sold 125,858 shares of company stock worth $2,091,604 over the last 90 days. 2.60% of the stock is owned by insiders.

Interface Price Performance

NASDAQ TILE traded down $0.03 during trading hours on Friday, reaching $18.97. The company's stock had a trading volume of 4,431,422 shares, compared to its average volume of 439,581. Interface, Inc. has a 1 year low of $8.26 and a 1 year high of $19.45. The company has a quick ratio of 1.45, a current ratio of 2.76 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 0.94 and a beta of 1.98. The firm's 50-day moving average price is $17.57 and its 200-day moving average price is $16.27.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The textile maker reported $0.40 EPS for the quarter, topping the consensus estimate of $0.28 by $0.12. The business had revenue of $346.60 million for the quarter, compared to analysts' expectations of $340.21 million. Interface had a net margin of 5.20% and a return on equity of 18.42%. The business's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. On average, equities research analysts predict that Interface, Inc. will post 1.28 EPS for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Friday, August 30th. Interface's payout ratio is 3.96%.

Interface Company 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.