Front Street Capital Management Inc. Lowers Position in Interface, Inc. (NASDAQ:TILE)

Front Street Capital Management Inc. trimmed its stake in shares of Interface, Inc. (NASDAQ:TILE) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,077 shares of the textile maker’s stock after selling 9,622 shares during the period. Front Street Capital Management Inc. owned about 0.18% of Interface worth $1,528,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC purchased a new position in Interface in the 1st quarter valued at about $2,027,000. SG Americas Securities LLC boosted its stake in shares of Interface by 1,195.5% during the 2nd quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock valued at $1,243,000 after buying an additional 78,113 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Interface by 182.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock valued at $2,187,000 after buying an additional 83,932 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Interface during the 1st quarter valued at approximately $859,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Interface by 107.2% during the 2nd quarter. Victory Capital Management Inc. now owns 182,620 shares of the textile maker’s stock valued at $2,681,000 after buying an additional 94,499 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TILE has been the topic of several research analyst reports. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th. Barrington Research restated an “outperform” rating and set a $22.00 price objective on shares of Interface in a research note on Friday.

Insiders Place Their Bets

In other Interface news, Director Daniel T. Hendrix sold 2,153 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $14.67, for a total value of $31,584.51. Following the sale, the director now directly owns 246,147 shares of the company’s stock, valued at $3,610,976.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Daniel T. Hendrix sold 2,153 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $14.67, for a total transaction of $31,584.51. Following the transaction, the director now directly owns 246,147 shares of the company’s stock, valued at $3,610,976.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce Andrew Hausmann sold 55,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total value of $935,000.00. Following the transaction, the chief financial officer now directly owns 198,475 shares in the company, valued at $3,374,075. The disclosure for this sale can be found here. Insiders have sold 125,858 shares of company stock valued at $2,091,604 over the last three months. Company insiders own 2.60% of the company’s stock.

Interface Stock Performance

Shares of TILE opened at $18.55 on Tuesday. Interface, Inc. has a 12-month low of $8.26 and a 12-month high of $19.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.76 and a quick ratio of 1.45. The business’s fifty day moving average price is $17.62 and its 200 day moving average price is $16.30. The stock has a market capitalization of $1.08 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.94 and a beta of 1.98.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.12. Interface had a return on equity of 18.42% and a net margin of 5.20%. The firm had revenue of $346.60 million for the quarter, compared to analyst estimates of $340.21 million. During the same period last year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that Interface, Inc. will post 1.28 EPS for the current year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date was Friday, August 30th. Interface’s dividend payout ratio is presently 3.96%.

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.