UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Holdings in Interface, Inc. (NASDAQ:TILE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Interface, Inc. (NASDAQ:TILE) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,369 shares of the textile maker’s stock after selling 5,780 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of Interface worth $2,037,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Interface during the 2nd quarter worth about $32,000. KBC Group NV boosted its stake in shares of Interface by 70.7% in the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after buying an additional 1,438 shares during the last quarter. nVerses Capital LLC acquired a new stake in Interface during the third quarter worth about $70,000. DekaBank Deutsche Girozentrale purchased a new position in Interface during the second quarter valued at approximately $91,000. Finally, Point72 DIFC Ltd acquired a new position in Interface in the second quarter valued at approximately $106,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barrington Research lifted their price objective on shares of Interface from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th.

Insiders Place Their Bets

In other news, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the business’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 $4,296,112.50. The trade was a 15.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 83,175 shares of company stock worth $2,119,987. Corporate insiders own 2.60% of the company’s stock.

Interface Trading Down 0.8 %

Shares of TILE stock opened at $26.13 on Monday. Interface, Inc. has a 1-year low of $11.48 and a 1-year high of $27.34. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 18.27, a PEG 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 stock has a 50 day simple moving average of $22.99 and a 200-day simple moving average of $18.91.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company had revenue of $344.30 million during the quarter, compared to analysts’ expectations of $336.39 million. During the same period in the prior year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

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

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.