Los Angeles Capital Management LLC Trims Position in Interface, Inc. (NASDAQ:TILE)

Los Angeles Capital Management LLC reduced its position in shares of Interface, Inc. (NASDAQ:TILE) by 5.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,863 shares of the textile maker’s stock after selling 4,730 shares during the period. Los Angeles Capital Management LLC owned approximately 0.13% of Interface worth $1,310,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Interface by 0.5% during the fourth quarter. Wellington Management Group LLP now owns 2,508,961 shares of the textile maker’s stock worth $31,663,000 after purchasing an additional 12,847 shares in the last quarter. Gendell Jeffrey L purchased a new position in Interface during the fourth quarter worth about $277,000. Isthmus Partners LLC raised its holdings in Interface by 4.6% during the fourth quarter. Isthmus Partners LLC now owns 197,188 shares of the textile maker’s stock worth $2,489,000 after purchasing an additional 8,686 shares in the last quarter. Arjuna Capital purchased a new position in Interface during the fourth quarter worth about $257,000. Finally, Panagora Asset Management Inc. raised its holdings in Interface by 7.2% during the fourth quarter. Panagora Asset Management Inc. now owns 243,017 shares of the textile maker’s stock worth $3,067,000 after purchasing an additional 16,358 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Interface Stock Up 0.4 %

TILE stock opened at $14.67 on Monday. The company’s 50 day simple moving average is $15.47 and its 200-day simple moving average is $14.38. The firm has a market capitalization of $854.38 million, a PE ratio of 14.52, a P/E/G ratio of 0.83 and a beta of 2.00. Interface, Inc. has a 12 month low of $8.06 and a 12 month high of $18.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.72 and a quick ratio of 1.30.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, May 3rd. The textile maker reported $0.24 EPS for the quarter, beating the consensus estimate of $0.12 by $0.12. The business had revenue of $289.70 million for the quarter, compared to analyst estimates of $284.76 million. Interface had a net margin of 4.73% and a return on equity of 16.94%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share. Equities analysts expect that Interface, Inc. will post 1.18 earnings per share for the current fiscal year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.01 per share. The ex-dividend date was Friday, May 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. Interface’s dividend payout ratio (DPR) is currently 3.96%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TILE shares. TheStreet upgraded shares of Interface from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th. Truist Financial upped their target price on shares of Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Finally, Barrington Research restated an “outperform” rating and set a $22.00 target price on shares of Interface in a research report on Monday, June 17th.

Insider Buying and Selling

In related news, VP Stansfield Nigel sold 19,990 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $16.24, for a total transaction of $324,637.60. Following the sale, the vice president now owns 181,855 shares in the company, valued at $2,953,325.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $15.05, for a total transaction of $188,125.00. Following the transaction, the director now owns 258,647 shares of the company’s stock, valued at $3,892,637.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Stansfield Nigel sold 19,990 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $16.24, for a total transaction of $324,637.60. Following the transaction, the vice president now directly owns 181,855 shares in the company, valued at approximately $2,953,325.20. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

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.