Renaissance Technologies LLC Increases Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Renaissance Technologies LLC grew its stake in shares of Interface, Inc. (NASDAQ:TILE) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 345,400 shares of the textile maker’s stock after purchasing an additional 34,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.59% of Interface worth $5,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Innealta Capital LLC purchased a new position in shares of Interface in the 2nd quarter valued at $32,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Interface during the first quarter worth about $57,000. GAMMA Investing LLC increased its position in shares of Interface by 131.1% during the first quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock worth $66,000 after purchasing an additional 2,237 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Interface during the second quarter worth about $91,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Interface in the 1st quarter valued at about $110,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Transactions at Interface

In other Interface news, Director Daniel T. Hendrix sold 10,347 shares of Interface stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $14.43, for a total value of $149,307.21. Following the sale, the director now owns 248,300 shares of the company’s stock, valued at approximately $3,582,969. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Stansfield Nigel sold 17,500 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $16.44, for a total transaction of $287,700.00. Following the transaction, the vice president now directly owns 164,355 shares of the company’s stock, valued at approximately $2,701,996.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel T. Hendrix sold 10,347 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $14.43, for a total transaction of $149,307.21. Following the completion of the sale, the director now owns 248,300 shares of the company’s stock, valued at approximately $3,582,969. The disclosure for this sale can be found here. Insiders have sold a total of 125,858 shares of company stock worth $2,091,604 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Interface Stock Performance

NASDAQ TILE opened at $18.40 on Friday. The business’s 50-day moving average price is $17.73 and its 200 day moving average price is $16.35. The company has a quick ratio of 1.45, a current ratio of 2.76 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1.07 billion, a P/E ratio of 18.51, a P/E/G ratio of 0.97 and a beta of 1.98. Interface, Inc. has a 52-week low of $8.26 and a 52-week high of $19.45.

Interface (NASDAQ:TILE) last released its earnings results on Friday, August 2nd. The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.12. Interface had a return on equity of 18.42% and a net margin of 5.20%. The business had revenue of $346.60 million for the quarter, compared to analyst estimates of $340.21 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that Interface, Inc. will post 1.28 earnings per share for the current year.

Interface Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barrington Research reaffirmed an “outperform” rating and set a $22.00 price target on shares of Interface in a research report on Friday, September 20th. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

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.