Renaissance Technologies LLC Has $11.47 Million Stake in Interface, Inc. $TILE

Renaissance Technologies LLC raised its stake in shares of Interface, Inc. (NASDAQ:TILEFree Report) by 107.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 460,156 shares of the textile maker’s stock after purchasing an additional 238,515 shares during the quarter. Renaissance Technologies LLC owned 0.79% of Interface worth $11,467,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in TILE. ProShare Advisors LLC increased its stake in Interface by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker’s stock valued at $315,000 after acquiring an additional 349 shares during the period. Larson Financial Group LLC lifted its position in shares of Interface by 30.8% in the 4th quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker’s stock worth $43,000 after acquiring an additional 362 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Interface by 0.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker’s stock worth $1,560,000 after purchasing an additional 403 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Interface by 1.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,695 shares of the textile maker’s stock worth $857,000 after purchasing an additional 452 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Interface by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker’s stock valued at $722,000 after purchasing an additional 495 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Bruce Andrew Hausmann sold 50,000 shares of Interface stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the transaction, the chief financial officer directly owned 119,256 shares of the company’s stock, valued at $3,537,132.96. This trade represents a 29.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David B. Foshee sold 44,393 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the transaction, the vice president owned 175,014 shares in the company, valued at approximately $5,075,406. This trade represents a 20.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.47% of the stock is currently owned by corporate insiders.

Interface Trading Up 1.4%

TILE stock opened at $34.26 on Friday. Interface, Inc. has a 1-year low of $20.37 and a 1-year high of $36.66. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $32.46 and its 200-day moving average is $30.28. The firm has a market cap of $1.99 billion, a P/E ratio of 16.01, a P/E/G ratio of 1.08 and a beta of 1.88.

Interface (NASDAQ:TILEGet Free Report) last posted its earnings results on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. Interface had a return on equity of 20.09% and a net margin of 8.92%.The business had revenue of $331.04 million during the quarter, compared to the consensus estimate of $320.38 million. During the same quarter last year, the company earned $0.25 EPS. Interface’s revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that Interface, Inc. will post 2.11 earnings per share for the current fiscal year.

Interface Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, June 5th. Interface’s payout ratio is currently 5.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Benchmark began coverage on Interface in a research note on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price for the company. Barrington Research reiterated an “outperform” rating and set a $36.00 price target on shares of Interface in a research note on Friday, April 17th. Wall Street Zen raised shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Interface in a report on Wednesday, June 17th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Interface has an average rating of “Moderate Buy” and an average price target of $36.00.

View Our Latest Analysis on TILE

Interface Company Profile

(Free Report)

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.

See Also

Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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