Interface, Inc. (NASDAQ:TILE) Stock Position Reduced by Rhumbline Advisers

Rhumbline Advisers trimmed its position in Interface, Inc. (NASDAQ:TILE) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,558 shares of the textile maker’s stock after selling 10,748 shares during the quarter. Rhumbline Advisers owned approximately 0.32% of Interface worth $4,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Creative Planning increased its stake in Interface by 24.7% during the third quarter. Creative Planning now owns 22,720 shares of the textile maker’s stock valued at $431,000 after purchasing an additional 4,496 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Interface in the 3rd quarter valued at about $790,000. New York State Teachers Retirement System grew its position in shares of Interface by 1.6% during the 3rd quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock valued at $2,188,000 after buying an additional 1,767 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Interface by 1,348.0% during the third quarter. Farther Finance Advisors LLC now owns 6,241 shares of the textile maker’s stock worth $118,000 after acquiring an additional 5,810 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Interface by 5.8% in the third quarter. Principal Financial Group Inc. now owns 304,050 shares of the textile maker’s stock worth $5,768,000 after acquiring an additional 16,624 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TILE. Barrington Research reiterated an “outperform” rating and set a $30.00 price target on shares of Interface in a research report on Tuesday. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a research note on Monday.

Insider Activity

In related news, VP David B. Foshee sold 15,175 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total transaction of $398,647.25. Following the completion of the sale, the vice president now directly owns 202,398 shares in the company, valued at approximately $5,316,995.46. This trade represents a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel T. Hendrix sold 12,500 shares of the business’s stock in a transaction 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 sale, the director now directly owns 116,147 shares in the company, valued at $2,799,142.70. This trade represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,175 shares of company stock worth $1,471,087 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Interface Stock Performance

TILE opened at $19.61 on Friday. Interface, Inc. has a twelve month low of $14.13 and a twelve month high of $27.34. The stock has a market cap of $1.14 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 0.96 and a beta of 2.10. The business’s 50 day moving average is $23.51 and its 200-day moving average is $21.90. 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 Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $335.00 million during the quarter, compared to the consensus estimate of $340.51 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

About Interface

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.