Interface, Inc. (NASDAQ:TILE) Stock Position Lifted by KBC Group NV

KBC Group NV grew its position in Interface, Inc. (NASDAQ:TILE) by 70.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,472 shares of the textile maker’s stock after acquiring an additional 1,438 shares during the quarter. KBC Group NV’s holdings in Interface were worth $66,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Interface by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,298,736 shares of the textile maker’s stock valued at $89,125,000 after purchasing an additional 43,184 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Interface by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock worth $42,469,000 after acquiring an additional 31,224 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Interface by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after acquiring an additional 247,350 shares during the last quarter. American Century Companies Inc. boosted its stake in Interface by 22.3% in the second quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after acquiring an additional 285,353 shares during the period. Finally, Meros Investment Management LP grew its holdings in shares of Interface by 1.5% during the second quarter. Meros Investment Management LP now owns 698,305 shares of the textile maker’s stock valued at $10,251,000 after purchasing an additional 10,616 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TILE shares. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barrington Research raised their target price on Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

Insider Buying and Selling

In other Interface news, CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $25.50, for a total value of $765,000.00. Following the completion of the transaction, the chief financial officer now directly owns 168,475 shares in the company, valued at $4,296,112.50. This trade represents a 15.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total transaction of $482,400.00. Following the sale, the vice president now owns 144,355 shares in the company, valued at $3,481,842.60. This represents a 12.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Interface Stock Performance

TILE opened at $25.46 on Friday. Interface, Inc. has a twelve month low of $9.87 and a twelve month high of $26.11. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.48 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.23 and a beta of 1.97. The business’s 50 day moving average is $20.64 and its 200-day moving average is $17.79.

Interface (NASDAQ:TILE) last released its earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.34 by $0.14. The firm had revenue of $344.30 million for the quarter, compared to analysts’ expectations of $336.39 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. Interface’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. On average, analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Friday, November 29th. Interface’s dividend payout ratio (DPR) is presently 2.80%.

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.