Geode Capital Management LLC Increases Stock Position in Interface, Inc. (NASDAQ:TILE)

Geode Capital Management LLC increased its position in shares of Interface, Inc. (NASDAQ:TILE) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,371,976 shares of the textile maker’s stock after buying an additional 11,931 shares during the period. Geode Capital Management LLC owned about 2.35% of Interface worth $26,031,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in shares of Interface in the 3rd quarter valued at approximately $790,000. HighTower Advisors LLC acquired a new stake in Interface in the third quarter valued at $1,138,000. Renaissance Technologies LLC boosted its stake in Interface by 11.0% during the 2nd quarter. Renaissance Technologies LLC now owns 345,400 shares of the textile maker’s stock valued at $5,070,000 after acquiring an additional 34,200 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Interface by 46.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 176,617 shares of the textile maker’s stock worth $2,593,000 after acquiring an additional 56,093 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Interface by 107.2% in the 2nd quarter. Victory Capital Management Inc. now owns 182,620 shares of the textile maker’s stock worth $2,681,000 after purchasing an additional 94,499 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

TILE has been the topic of several research analyst reports. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Barrington Research increased their target price on Interface from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th.

Interface Stock Down 1.8 %

TILE stock opened at $24.97 on Friday. The firm has a fifty day moving average price of $24.19 and a two-hundred day moving average price of $19.56. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface, Inc. has a 1-year low of $11.48 and a 1-year high of $27.34. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.29 and a beta of 2.09.

Interface (NASDAQ:TILE) last announced its quarterly earnings data 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. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts predict that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The business also recently declared 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 dividend yield of 0.16%. The ex-dividend date was Friday, November 29th. Interface’s dividend payout ratio (DPR) is 2.80%.

Insider Activity at Interface

In related news, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total value of $398,647.25. Following the sale, the vice president now directly owns 202,398 shares in the company, valued at $5,316,995.46. This trade represents a 6.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total transaction of $482,400.00. Following the transaction, the vice president now directly owns 144,355 shares of the company’s stock, valued at $3,481,842.60. The trade was a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,175 shares of company stock worth $2,119,987 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

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.