Interface, Inc. (NASDAQ:TILE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Interface, Inc. (NASDAQ:TILE) by 15.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 480,428 shares of the textile maker’s stock after selling 88,010 shares during the period. Bank of New York Mellon Corp owned approximately 0.82% of Interface worth $11,698,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TILE. State Street Corp lifted its holdings in Interface by 0.6% in the 3rd quarter. State Street Corp now owns 2,232,327 shares of the textile maker’s stock valued at $42,347,000 after acquiring an additional 13,686 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Interface by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,371,976 shares of the textile maker’s stock worth $26,031,000 after purchasing an additional 11,931 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in Interface by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 608,900 shares of the textile maker’s stock valued at $14,827,000 after purchasing an additional 38,900 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Interface by 0.8% during the third quarter. Segall Bryant & Hamill LLC now owns 325,250 shares of the textile maker’s stock worth $6,170,000 after buying an additional 2,423 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Interface by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 315,596 shares of the textile maker’s stock worth $7,685,000 after buying an additional 11,546 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

TILE has been the subject of a number of recent research reports. Barrington Research reiterated an “outperform” rating and set a $30.00 price objective on shares of Interface in a research report on Tuesday, February 25th. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th.

Interface Stock Performance

Interface stock opened at $18.78 on Friday. Interface, Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. The firm’s 50 day simple moving average is $22.34 and its 200-day simple moving average is $22.00. 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 company has a market cap of $1.10 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18.

Interface (NASDAQ:TILE) last announced its earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The company had revenue of $335.00 million for the quarter, compared to the consensus estimate of $340.51 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. As a group, equities research analysts predict that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. Interface’s payout ratio is presently 2.72%.

Insider Buying and Selling at Interface

In related news, Director Daniel T. Hendrix sold 12,500 shares of the firm’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 transaction of $301,250.00. Following the completion of the sale, the director now directly owns 116,147 shares in the company, valued at approximately $2,799,142.70. This trade represents a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 32,500 shares of company stock valued at $748,125 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

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.