JPMorgan Chase & Co. Purchases 23,447 Shares of Interface, Inc. (NASDAQ:TILE)

JPMorgan Chase & Co. increased its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 22.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 129,264 shares of the textile maker’s stock after purchasing an additional 23,447 shares during the period. JPMorgan Chase & Co. owned 0.22% of Interface worth $2,452,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP boosted its stake in shares of Interface by 499.5% during the 3rd quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock worth $47,000 after acquiring an additional 2,063 shares during the period. National Bank of Canada FI lifted its holdings in Interface by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 856 shares during the last quarter. KBC Group NV boosted its position in Interface by 70.7% during the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after purchasing an additional 1,438 shares during the period. nVerses Capital LLC acquired a new position in shares of Interface in the third quarter valued at $70,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Interface by 174.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,934 shares of the textile maker’s stock valued at $113,000 after purchasing an additional 3,770 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Activity

In other news, Director Daniel T. Hendrix sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total value of $301,250.00. Following the completion of the transaction, the director now directly owns 116,147 shares in the company, valued at approximately $2,799,142.70. The trade was a 9.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 168,475 shares in the company, valued at $4,296,112.50. This represents a 15.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 95,675 shares of company stock worth $2,421,237. 2.60% of the stock is currently owned by company insiders.

Interface Trading Up 0.4 %

Shares of Interface stock opened at $24.01 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The firm has a 50-day moving average of $25.11 and a 200-day moving average of $20.65. Interface, Inc. has a 52-week low of $11.58 and a 52-week high of $27.34. The stock has a market cap of $1.40 billion, a PE ratio of 16.79, a PEG ratio of 0.98 and a beta of 2.10.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) 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 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 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast 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 $0.01 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.04 annualized dividend and a yield of 0.17%. Interface’s dividend payout ratio is presently 2.80%.

Analyst Upgrades and Downgrades

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

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.