Skandinaviska Enskilda Banken AB publ Lowers Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Skandinaviska Enskilda Banken AB publ lessened its stake in Interface, Inc. (NASDAQ:TILE - Free Report) by 21.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,884 shares of the textile maker's stock after selling 22,916 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.15% of Interface worth $2,081,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TILE. Smartleaf Asset Management LLC boosted its position in shares of Interface by 78.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker's stock valued at $30,000 after purchasing an additional 546 shares in the last quarter. GAMMA Investing LLC raised its stake in Interface by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker's stock worth $94,000 after buying an additional 578 shares during the period. Principal Securities Inc. raised its stake in Interface by 103.1% during the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker's stock worth $36,000 after buying an additional 741 shares during the period. Venturi Wealth Management LLC raised its stake in Interface by 204.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock worth $27,000 after buying an additional 750 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Interface by 33.7% in the third quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker's stock worth $64,000 after purchasing an additional 856 shares during the last quarter. Institutional investors own 98.34% of the company's stock.

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Interface Stock Performance

Shares of TILE traded down $0.14 on Thursday, reaching $19.76. 349,826 shares of the company's stock traded hands, compared to its average volume of 487,556. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.15 billion, a PE ratio of 13.82, a PEG ratio of 0.96 and a beta of 2.18. The stock's 50 day simple moving average is $21.99 and its two-hundred day simple moving average is $22.05. Interface, Inc. has a 52-week low of $14.13 and a 52-week high of $27.34.

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

Interface Dividend Announcement

The business also recently declared 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Friday, March 28th. Interface's payout ratio is currently 2.72%.

Insider Transactions at Interface

In related news, Director Daniel T. Hendrix sold 7,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total value of $149,625.00. Following the sale, the director now owns 96,147 shares in the company, valued at approximately $1,918,132.65. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 32,500 shares of company stock valued at $748,125 over the last three months. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

TILE has been the subject of several analyst reports. StockNews.com downgraded Interface from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Barrington Research reissued an "outperform" rating and issued a $30.00 price objective on shares of Interface in a research note on Tuesday, February 25th.

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.