Summit Global Investments Acquires Shares of 13,118 Interface, Inc. (NASDAQ:TILE)

Summit Global Investments acquired a new position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,118 shares of the textile maker's stock, valued at approximately $319,000.

A number of other institutional investors also recently modified their holdings of TILE. Jennison Associates LLC acquired a new position in Interface during the 3rd quarter worth about $611,000. Intech Investment Management LLC acquired a new position in Interface during the 3rd quarter worth $356,000. Algert Global LLC increased its stake in shares of Interface by 54.2% in the 3rd quarter. Algert Global LLC now owns 192,071 shares of the textile maker's stock valued at $3,644,000 after buying an additional 67,539 shares during the period. FMR LLC raised its position in shares of Interface by 138.8% during the third quarter. FMR LLC now owns 95,215 shares of the textile maker's stock worth $1,806,000 after acquiring an additional 55,345 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Interface by 13.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker's stock worth $561,000 after purchasing an additional 3,464 shares during the last quarter. Institutional investors own 98.34% of the company's stock.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total transaction of $301,250.00. Following the completion of the sale, the director now directly owns 116,147 shares in the company, valued at $2,799,142.70. This trade represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 32,500 shares of company stock worth $748,125. Insiders own 2.60% of the company's stock.

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Interface Stock Down 3.1 %

Shares of TILE traded down $0.63 during midday trading on Friday, hitting $19.75. The stock had a trading volume of 557,422 shares, compared to its average volume of 513,596. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18. The company has a 50 day simple moving average of $21.59 and a two-hundred day simple moving average of $22.10. Interface, Inc. has a twelve month low of $14.13 and a twelve month high of $27.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38.

Interface (NASDAQ:TILE - Get Free Report) last announced its earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, topping 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 quarter in the prior year, the company posted $0.41 earnings per share. The firm's revenue was up 3.0% on a year-over-year basis. On average, analysts anticipate that Interface, Inc. will post 1.37 EPS 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 paid a dividend of $0.01 per share. 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 is presently 2.72%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barrington Research reissued an "outperform" rating and set a $30.00 price objective on shares of Interface in a research note on Tuesday, February 25th. StockNews.com downgraded Interface from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th.

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.