Principal Financial Group Inc. Has $5.77 Million Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Principal Financial Group Inc. raised its position in Interface, Inc. (NASDAQ:TILE) by 5.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 304,050 shares of the textile maker’s stock after acquiring an additional 16,624 shares during the period. Principal Financial Group Inc. owned about 0.52% of Interface worth $5,768,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC grew its position in Interface by 1,195.5% in the second quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock valued at $1,243,000 after purchasing an additional 78,113 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Interface by 182.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock valued at $2,187,000 after acquiring an additional 83,932 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Interface in the 3rd quarter valued at about $790,000. Renaissance Technologies LLC increased its position in shares of Interface by 11.0% in the second quarter. Renaissance Technologies LLC now owns 345,400 shares of the textile maker’s stock valued at $5,070,000 after acquiring an additional 34,200 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Interface by 46.5% during the second quarter. First Eagle Investment Management LLC now owns 176,617 shares of the textile maker’s stock worth $2,593,000 after acquiring an additional 56,093 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barrington Research upped their price objective on Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Interface Stock Performance

NASDAQ:TILE opened at $25.47 on Thursday. The stock has a 50 day simple moving average of $20.22 and a 200 day simple moving average of $17.62. The stock has a market cap of $1.49 billion, a P/E ratio of 17.81, a PEG ratio of 1.22 and a beta of 1.97. Interface, Inc. has a 1-year low of $9.87 and a 1-year high of $26.11. 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 (NASDAQ:TILE) last posted its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm had revenue of $344.30 million for the quarter, compared to analyst estimates of $336.39 million. During the same quarter last year, the company earned $0.28 EPS. The company’s revenue was up 10.7% on a year-over-year basis. Research analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Friday, November 29th. Interface’s dividend payout ratio (DPR) is 2.80%.

Insider Buying and Selling at Interface

In other news, VP Stansfield Nigel sold 20,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total value of $482,400.00. Following the completion of the sale, the vice president now owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. This represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

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.