Interface, Inc. (NASDAQ:TILE) Position Increased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in Interface, Inc. (NASDAQ:TILE) by 13.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,555 shares of the textile maker’s stock after acquiring an additional 3,464 shares during the period. BNP Paribas Financial Markets owned 0.05% of Interface worth $561,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Interface by 1,195.5% in the 2nd quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock valued at $1,243,000 after acquiring an additional 78,113 shares during the period. Diversified Trust Co purchased a new stake in shares of Interface during the second quarter valued at $154,000. Hennessy Advisors Inc. acquired a new position in shares of Interface in the 2nd quarter valued at $7,430,000. Legato Capital Management LLC acquired a new stake in shares of Interface during the second quarter valued at approximately $814,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Interface by 13.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock worth $218,000 after buying an additional 1,770 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TILE. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barrington Research boosted their price objective on Interface from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday.

Insider Activity at Interface

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 stock was sold at an average price of $25.50, for a total transaction of $765,000.00. Following the transaction, the chief financial officer now owns 168,475 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stansfield Nigel sold 20,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total transaction of $482,400.00. Following the completion of the sale, the vice president now owns 144,355 shares in the company, valued at approximately $3,481,842.60. This trade represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,175 shares of company stock valued at $2,119,987 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Interface Stock Down 0.8 %

TILE opened at $26.13 on Friday. Interface, Inc. has a fifty-two week low of $11.48 and a fifty-two week high of $27.34. The company has a market capitalization of $1.52 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.29 and a beta of 2.09. 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 firm’s fifty day moving average price is $22.83 and its two-hundred day moving average price is $18.82.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 19.91% and a net margin of 6.49%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 earnings per share. On average, analysts anticipate that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Friday, November 29th. Interface’s dividend payout ratio is currently 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.