Wellington Management Group LLP Sells 517,262 Shares of Interface, Inc. (NASDAQ:TILE)

Wellington Management Group LLP lowered its holdings in Interface, Inc. (NASDAQ:TILE - Free Report) by 22.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,773,182 shares of the textile maker's stock after selling 517,262 shares during the period. Wellington Management Group LLP owned about 3.04% of Interface worth $33,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in Interface in the second quarter valued at $32,000. Quarry LP lifted its stake in 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 during the last quarter. KBC Group NV lifted its stake in Interface by 70.7% in the third quarter. KBC Group NV now owns 3,472 shares of the textile maker's stock valued at $66,000 after acquiring an additional 1,438 shares during the last quarter. nVerses Capital LLC acquired a new stake in Interface in the third quarter valued at $70,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Interface in the second quarter valued at $91,000. Institutional investors own 98.34% of the company's stock.

Wall Street Analysts Forecast Growth

TILE has been the subject of a number of recent analyst reports. StockNews.com cut shares of 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 stock an "outperform" rating in a research note on Wednesday.

Interface Stock Performance

Shares of NASDAQ TILE traded down $0.17 during mid-day trading on Friday, reaching $26.16. 345,315 shares of the company were exchanged, compared to its average volume of 452,122. The company's 50-day simple moving average is $22.83 and its 200-day simple moving average is $18.82. 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 stock has a market capitalization of $1.53 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.29 and a beta of 2.09. 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 issued its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.14. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $344.30 million during the quarter, compared to analysts' expectations of $336.39 million. During the same quarter in the previous year, the company earned $0.28 EPS. The business's revenue was up 10.7% 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. Interface's payout ratio is 2.80%.

Insider Transactions at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 30,000 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $25.50, for a total transaction of $765,000.00. Following the completion of the transaction, the chief financial officer now owns 168,475 shares of the company's stock, valued at approximately $4,296,112.50. The trade was a 15.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel T. Hendrix sold 18,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total transaction of $473,940.00. Following the completion of the transaction, the director now directly owns 153,147 shares of the company's stock, valued at $4,032,360.51. This trade represents a 10.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,175 shares of company stock valued at $2,119,987. 2.60% of the stock is owned by corporate insiders.

Interface 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.