Wellington Management Group LLP Sells 558,841 Shares of Interface, Inc. (NASDAQ:TILE)

Wellington Management Group LLP decreased its position in shares of Interface, Inc. (NASDAQ:TILE - Free Report) by 31.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,214,341 shares of the textile maker's stock after selling 558,841 shares during the period. Wellington Management Group LLP owned approximately 2.08% of Interface worth $29,569,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Interface by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker's stock valued at $148,936,000 after buying an additional 246,726 shares in the last quarter. Barclays PLC boosted its position in shares of Interface by 688.5% during the 3rd quarter. Barclays PLC now owns 256,987 shares of the textile maker's stock valued at $4,873,000 after acquiring an additional 224,395 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Interface by 12.3% in the fourth quarter. American Century Companies Inc. now owns 1,992,296 shares of the textile maker's stock valued at $48,512,000 after purchasing an additional 218,113 shares in the last quarter. JPMorgan Chase & Co. increased its position in Interface by 139.0% in the fourth quarter. JPMorgan Chase & Co. now owns 308,884 shares of the textile maker's stock worth $7,521,000 after purchasing an additional 179,620 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Interface by 25.9% during the fourth quarter. Prudential Financial Inc. now owns 676,030 shares of the textile maker's stock valued at $16,461,000 after purchasing an additional 139,150 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have commented on TILE shares. 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. StockNews.com lowered Interface from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th.

Insiders Place Their Bets

In other Interface 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 $1,918,132.65. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by insiders.

Interface Stock Performance

Shares of NASDAQ TILE remained flat at $18.82 during trading hours on Friday. The stock had a trading volume of 337,771 shares, compared to its average volume of 516,892. The firm's 50 day moving average is $20.21 and its 200 day moving average is $22.15. Interface, Inc. has a 52-week low of $14.13 and a 52-week high of $27.34. The company has a market capitalization of $1.10 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $340.51 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. The business's revenue was up 3.0% compared to the same quarter last year. Equities 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. Shareholders of record on Friday, March 28th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date is Friday, March 28th. Interface's payout ratio is currently 2.72%.

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.