Principal Financial Group Inc. Raises Stock Position in Interface, Inc. (NASDAQ:TILE)

Principal Financial Group Inc. lifted its stake in Interface, Inc. (NASDAQ:TILE) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 315,596 shares of the textile maker’s stock after purchasing an additional 11,546 shares during the period. Principal Financial Group Inc. owned 0.54% of Interface worth $7,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. raised its stake in Interface by 103.1% in the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after buying an additional 741 shares in the last quarter. Quarry LP grew its holdings 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 grew its holdings 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 acquiring an additional 856 shares during the period. KBC Group NV raised its position 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 worth $66,000 after acquiring an additional 1,438 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Interface by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 578 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TILE has been the subject of a number of research reports. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Monday, February 24th. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Interface in a research report on Tuesday, February 25th.

Insider Transactions at Interface

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $23.78, for a total transaction of $297,250.00. Following the completion of the sale, the director now directly owns 103,647 shares in the company, valued at approximately $2,464,725.66. This trade represents a 10.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total transaction of $398,647.25. Following the completion of the transaction, the vice president now directly owns 202,398 shares of the company’s stock, valued at $5,316,995.46. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,175 shares of company stock valued at $1,471,087 in the last quarter. 2.60% of the stock is owned by insiders.

Interface Price Performance

Shares of NASDAQ TILE opened at $20.23 on Friday. The company has a 50 day simple moving average of $23.43 and a two-hundred day simple moving average of $21.96. Interface, Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.96 and a beta of 2.10. 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 announced its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $340.51 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

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.