Raymond James Financial Inc. Invests $2.50 Million in Interface, Inc. (NASDAQ:TILE)

Raymond James Financial Inc. bought a new stake in shares of Interface, Inc. (NASDAQ:TILE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 102,567 shares of the textile maker's stock, valued at approximately $2,498,000. Raymond James Financial Inc. owned about 0.18% of Interface at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TILE. HighTower Advisors LLC bought a new stake in Interface in the third quarter valued at $1,138,000. Sanctuary Advisors LLC acquired a new stake in shares of Interface in the 3rd quarter worth about $1,661,000. BNP Paribas Financial Markets lifted its position in Interface by 13.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker's stock valued at $561,000 after purchasing an additional 3,464 shares during the last quarter. FMR LLC boosted its stake in Interface by 138.8% during the 3rd quarter. FMR LLC now owns 95,215 shares of the textile maker's stock valued at $1,806,000 after purchasing an additional 55,345 shares during the period. Finally, Jennison Associates LLC grew its position in Interface by 103.2% in the 4th quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker's stock worth $1,595,000 after purchasing an additional 33,264 shares during the last quarter. Institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TILE shares. StockNews.com cut Interface from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Barrington Research reaffirmed an "outperform" rating and set a $30.00 target price on shares of Interface in a research note on Tuesday, February 25th.

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Insider Activity at Interface

In other news, Director Daniel T. Hendrix sold 7,500 shares of Interface stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $19.95, for a total value of $149,625.00. Following the transaction, the director now owns 96,147 shares of the company's stock, valued at $1,918,132.65. The trade was a 7.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 32,500 shares of company stock valued at $748,125 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Interface Price Performance

TILE stock traded up $0.09 during trading on Monday, hitting $19.84. The company had a trading volume of 960,316 shares, compared to its average volume of 515,376. The business has a 50 day moving average of $21.51 and a 200 day moving average of $22.17. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 0.96 and a beta of 2.18. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Interface, Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $335.00 million during the quarter, compared to analysts' expectations of $340.51 million. During the same period last year, the firm posted $0.41 earnings per share. The business's revenue was up 3.0% on a year-over-year basis. As a group, research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. Interface's dividend payout ratio (DPR) is 2.72%.

About Interface

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.