Pzena Investment Management LLC reduced its position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 81.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 317,299 shares of the textile maker's stock after selling 1,377,959 shares during the period. Pzena Investment Management LLC owned about 0.54% of Interface worth $6,019,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in TILE. Hennessy Advisors Inc. bought a new stake in Interface in the second quarter valued at approximately $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 during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Interface by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker's stock worth $39,507,000 after buying an additional 247,350 shares during the period. Gendell Jeffrey L raised its stake in Interface by 1,041.8% during the first quarter. Gendell Jeffrey L now owns 250,363 shares of the textile maker's stock worth $4,211,000 after buying an additional 228,435 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Interface in the second quarter valued at $1,828,000. Institutional investors and hedge funds own 98.34% of the company's stock.
Interface Stock Down 1.0 %
Shares of NASDAQ TILE traded down $0.26 during trading on Thursday, hitting $25.21. 306,577 shares of the company traded hands, compared to its average volume of 453,661. 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 business's fifty day moving average is $20.37 and its 200 day moving average is $17.67. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.21 and a beta of 1.97. Interface, Inc. has a fifty-two week low of $9.87 and a fifty-two week high of $26.11.
Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business had revenue of $344.30 million for the quarter, compared to analyst estimates of $336.39 million. During the same quarter in the prior year, the company earned $0.28 earnings per share. The company's quarterly revenue was up 10.7% on a year-over-year basis. Equities research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.
Interface Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Friday, November 29th. Interface's dividend payout ratio (DPR) is 2.80%.
Insider Transactions at Interface
In related news, VP Stansfield Nigel sold 20,000 shares of Interface stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total transaction of $482,400.00. Following the transaction, the vice president now owns 144,355 shares of the company's stock, valued at $3,481,842.60. The trade was a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. StockNews.com lowered Interface from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 4th. Barrington Research lifted their target price on Interface from $22.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, November 1st.
Check Out Our Latest Stock Report on TILE
Interface Company Profile
(
Free Report)
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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