Intech Investment Management LLC Buys Shares of 18,752 Interface, Inc. (NASDAQ:TILE)

Intech Investment Management LLC bought a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 18,752 shares of the textile maker’s stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TILE. The Manufacturers Life Insurance Company boosted its holdings in shares of Interface by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,103 shares of the textile maker’s stock valued at $324,000 after purchasing an additional 1,368 shares during the last quarter. KBC Group NV boosted its holdings in shares of Interface by 70.7% during the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 1,438 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Interface by 1.6% during the 3rd quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock valued at $2,188,000 after purchasing an additional 1,767 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Interface by 13.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock valued at $218,000 after buying an additional 1,770 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Interface by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,431 shares of the textile maker’s stock valued at $916,000 after buying an additional 2,073 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Interface Stock Down 1.1 %

Shares of NASDAQ TILE opened at $26.29 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The company has a market cap of $1.53 billion, a P/E ratio of 18.38, a PEG ratio of 1.29 and a beta of 2.09. Interface, Inc. has a 1 year low of $10.21 and a 1 year high of $27.34. The firm has a 50-day simple moving average of $21.73 and a two-hundred day simple moving average of $18.33.

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

Interface Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Friday, November 29th. Interface’s payout ratio is 2.80%.

Insider Activity at Interface

In other Interface news, VP Stansfield Nigel sold 20,000 shares of Interface stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total value of $482,400.00. Following the transaction, the vice president now directly owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of Interface stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total transaction 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 represents a 15.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

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.