Raymond James Financial Inc. Buys New Shares in Interface, Inc. (NASDAQ:TILE)

Raymond James Financial Inc. purchased a new position in Interface, Inc. (NASDAQ:TILE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 102,567 shares of the textile maker’s stock, valued at approximately $2,498,000. Raymond James Financial Inc. owned 0.18% of Interface at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in shares of Interface in the 3rd quarter worth about $356,000. FMR LLC raised its stake in shares of Interface by 138.8% in the third quarter. FMR LLC now owns 95,215 shares of the textile maker’s stock worth $1,806,000 after purchasing an additional 55,345 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Interface by 13.3% in the third quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker’s stock valued at $561,000 after purchasing an additional 3,464 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Interface during the third quarter valued at approximately $214,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in Interface by 174.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,934 shares of the textile maker’s stock worth $113,000 after buying an additional 3,770 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Trading Down 3.1 %

Shares of Interface stock opened at $19.75 on Friday. 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 stock has a market capitalization of $1.15 billion, a P/E ratio of 13.81, a P/E/G ratio of 0.96 and a beta of 2.18. Interface, Inc. has a 52-week low of $14.13 and a 52-week high of $27.34. The stock’s 50-day simple moving average is $21.51 and its 200 day simple moving average is $22.14.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $340.51 million. During the same period 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. As a group, research analysts anticipate that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, March 28th. Interface’s dividend payout ratio (DPR) is 2.72%.

Insider Activity at Interface

In related news, Director Daniel T. Hendrix sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total value of $301,250.00. Following the completion of the sale, the director now owns 116,147 shares in the company, valued at $2,799,142.70. The trade was a 9.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 32,500 shares of company stock valued at $748,125 over the last three months. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on TILE. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Barrington Research reiterated an “outperform” rating and issued a $30.00 price objective on shares of Interface in a research note on Tuesday, February 25th.

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.