Principal Financial Group Inc. Acquires 16,624 Shares of Interface, Inc. (NASDAQ:TILE)

Principal Financial Group Inc. lifted its stake in shares of Interface, Inc. (NASDAQ:TILE) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 304,050 shares of the textile maker’s stock after buying an additional 16,624 shares during the quarter. Principal Financial Group Inc. owned about 0.52% of Interface worth $5,768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Quarry LP grew its holdings in Interface by 499.5% in the third quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock worth $47,000 after purchasing an additional 2,063 shares during the period. National Bank of Canada FI boosted its position in shares of Interface by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock worth $64,000 after purchasing an additional 856 shares in the last quarter. KBC Group NV grew its stake in shares of Interface by 70.7% in the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $66,000 after buying an additional 1,438 shares during the period. nVerses Capital LLC bought a new stake in Interface in the 3rd quarter valued at about $70,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Interface in the 2nd quarter valued at about $91,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insiders Place Their Bets

In other news, Director Daniel T. Hendrix sold 18,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total transaction of $473,940.00. Following the completion of the sale, the director now directly owns 153,147 shares of the company’s stock, valued at $4,032,360.51. This trade represents a 10.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 144,355 shares in the company, valued at $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 have sold a total of 83,175 shares of company stock valued at $2,119,987 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on TILE. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a research note 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 Performance

Shares of TILE opened at $24.35 on Thursday. The firm has a market capitalization of $1.42 billion, a P/E ratio of 17.03, a P/E/G ratio of 1.27 and a beta of 2.09. Interface, Inc. has a 52 week low of $11.48 and a 52 week high of $27.34. The stock has a 50 day moving average price of $24.53 and a two-hundred day moving average price of $19.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57.

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

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.04 annualized dividend and a yield of 0.16%. Interface’s dividend payout ratio (DPR) 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.