Interface, Inc. (NASDAQ:TILE) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its position in Interface, Inc. (NASDAQ:TILE - Free Report) by 27.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 344,929 shares of the textile maker's stock after selling 132,666 shares during the period. Teacher Retirement System of Texas owned about 0.59% of Interface worth $8,399,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC boosted its position in Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock worth $27,000 after purchasing an additional 750 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 buying an additional 546 shares in the last quarter. Principal Securities Inc. grew its stake in Interface by 103.1% in the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker's stock valued at $36,000 after acquiring an additional 741 shares during the period. US Bancorp DE increased its holdings in Interface by 163.5% in the 4th quarter. US Bancorp DE now owns 2,398 shares of the textile maker's stock worth $58,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Quarry LP raised its position in Interface by 499.5% during the third quarter. Quarry LP now owns 2,476 shares of the textile maker's stock worth $47,000 after acquiring an additional 2,063 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Interface

In other news, Director Daniel T. Hendrix sold 7,500 shares of the company's 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 transaction, the director now owns 96,147 shares of the company's stock, valued at $1,918,132.65. This represents a 7.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 32,500 shares of company stock valued at $748,125. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TILE shares. Barrington Research reissued an "outperform" rating and set a $30.00 target price 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 report on Tuesday, March 4th.

Interface Price Performance

Shares of Interface stock traded up $0.14 during trading hours on Thursday, reaching $20.38. 461,036 shares of the company's stock were exchanged, compared to its average volume of 489,319. The business has a fifty day moving average of $21.66 and a two-hundred day moving average of $22.11. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.19 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18. Interface, Inc. has a 1 year low of $14.13 and a 1 year high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last released its quarterly earnings data 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 net margin of 6.49% and a return on equity of 19.91%. Interface's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. As a group, research analysts predict 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 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%.

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.