Verition Fund Management LLC Takes $214,000 Position in Interface, Inc. (NASDAQ:TILE)

Verition Fund Management LLC purchased a new stake in Interface, Inc. (NASDAQ:TILE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 11,261 shares of the textile maker’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Interface in the 2nd quarter valued at about $32,000. KBC Group NV lifted its holdings in Interface by 70.7% in the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $66,000 after buying an additional 1,438 shares during the period. nVerses Capital LLC bought a new position in Interface in the third quarter valued at approximately $70,000. DekaBank Deutsche Girozentrale acquired a new stake in Interface during the 2nd quarter worth $91,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Interface during the 2nd quarter valued at $106,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TILE has been the topic of several recent research reports. Barrington Research raised their price target on Interface from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Insider Activity at Interface

In related news, CFO Bruce Andrew Hausmann sold 30,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total value of $765,000.00. Following the completion of the transaction, the chief financial officer now directly owns 168,475 shares of the company’s stock, valued at approximately $4,296,112.50. This represents a 15.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel T. Hendrix sold 18,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total value of $473,940.00. Following the transaction, the director now owns 153,147 shares of the company’s stock, valued at approximately $4,032,360.51. This trade represents a 10.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 83,175 shares of company stock worth $2,119,987. 2.60% of the stock is owned by company insiders.

Interface Trading Down 0.8 %

TILE opened at $26.13 on Monday. The firm’s fifty day moving average is $22.99 and its two-hundred day moving average is $18.91. The firm has a market cap of $1.52 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.29 and a beta of 2.09. Interface, Inc. has a twelve month low of $11.48 and a twelve month high of $27.34. 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 issued its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business had revenue of $344.30 million for the quarter, compared to the consensus estimate of $336.39 million. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, November 29th. Interface’s dividend payout ratio (DPR) is presently 2.80%.

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.