Sanctuary Advisors LLC Makes New Investment in Interface, Inc. (NASDAQ:TILE)

Sanctuary Advisors LLC acquired a new stake in Interface, Inc. (NASDAQ:TILE - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 87,566 shares of the textile maker's stock, valued at approximately $1,661,000. Sanctuary Advisors LLC owned approximately 0.15% of Interface at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Interface in the 2nd quarter valued at approximately $32,000. Quarry LP raised its stake in shares of Interface by 499.5% in the third quarter. Quarry LP now owns 2,476 shares of the textile maker's stock valued at $47,000 after acquiring an additional 2,063 shares in the last quarter. National Bank of Canada FI boosted its holdings in Interface by 33.7% in the third quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker's stock valued at $64,000 after purchasing an additional 856 shares during the period. KBC Group NV grew its stake in Interface by 70.7% during the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker's stock worth $66,000 after purchasing an additional 1,438 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Interface during the 3rd quarter worth about $70,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Insider Transactions at Interface

In other news, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total value of $398,647.25. Following the transaction, the vice president now directly owns 202,398 shares of the company's stock, valued at $5,316,995.46. The trade was a 6.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel T. Hendrix sold 18,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total transaction of $473,940.00. Following the transaction, the director now directly owns 153,147 shares in the company, valued at $4,032,360.51. The trade was a 10.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,175 shares of company stock worth $2,119,987. 2.60% of the stock is currently owned by insiders.

Interface Stock Down 0.5 %

Shares of TILE stock traded down $0.12 on Friday, reaching $24.53. 3,114,076 shares of the stock were exchanged, compared to its average volume of 467,129. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.29 and a beta of 2.09. The business's 50 day moving average price is $23.64 and its 200 day moving average price is $19.21. 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 twelve month low of $11.48 and a twelve month high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $336.39 million. During the same period in the prior year, the firm posted $0.28 EPS. The business's quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.16%. Interface's payout ratio is currently 2.80%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TILE shares. StockNews.com cut Interface from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. Barrington Research raised their target price on shares of Interface from $26.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th.

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.