Victory Capital Management Inc. Sells 8,371 Shares of Interface, Inc. (NASDAQ:TILE)

Victory Capital Management Inc. trimmed its stake in Interface, Inc. (NASDAQ:TILE) by 4.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 165,757 shares of the textile maker’s stock after selling 8,371 shares during the period. Victory Capital Management Inc. owned 0.28% of Interface worth $4,036,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC bought a new position in Interface in the 3rd quarter worth approximately $1,138,000. Sanctuary Advisors LLC bought a new position in Interface in the 3rd quarter worth approximately $1,661,000. BNP Paribas Financial Markets increased its position in Interface by 13.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker’s stock worth $561,000 after buying an additional 3,464 shares during the period. FMR LLC increased its position in Interface by 138.8% in the 3rd quarter. FMR LLC now owns 95,215 shares of the textile maker’s stock worth $1,806,000 after buying an additional 55,345 shares during the period. Finally, Jennison Associates LLC increased its position in Interface by 103.2% in the 4th quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker’s stock worth $1,595,000 after buying an additional 33,264 shares during the period. 98.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $30.00 price objective on shares of Interface in a research report on Tuesday, February 25th.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $23.78, for a total value of $297,250.00. Following the transaction, the director now owns 103,647 shares of the company’s stock, valued at approximately $2,464,725.66. The trade was a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 owned by corporate insiders.

Interface Stock Performance

TILE opened at $19.22 on Friday. The stock has a market cap of $1.12 billion, a PE ratio of 13.44, a P/E/G ratio of 0.96 and a beta of 2.18. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Interface, Inc. has a 1 year low of $14.13 and a 1 year high of $27.34. The stock’s 50 day simple moving average is $22.24 and its 200-day simple moving average is $22.03.

Interface (NASDAQ:TILE) last released 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. The business had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. Interface’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. Sell-side analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Friday, March 28th. Interface’s dividend payout ratio is 2.72%.

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.