WINTON GROUP Ltd bought a new position in Interface, Inc. (NASDAQ:TILE – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor bought 24,781 shares of the textile maker’s stock, valued at approximately $888,000.
Several other institutional investors and hedge funds have also made changes to their positions in TILE. BlackRock Inc. purchased a new stake in shares of Interface in the second quarter valued at approximately $338,055,000. California State Teachers Retirement System lifted its position in Interface by 4,232.4% during the second quarter. California State Teachers Retirement System now owns 2,313,042 shares of the textile maker’s stock worth $82,899,000 after buying an additional 2,259,653 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Interface during the second quarter worth approximately $66,077,000. GW&K Investment Management LLC lifted its position in Interface by 12.7% during the fourth quarter. GW&K Investment Management LLC now owns 993,413 shares of the textile maker’s stock worth $27,736,000 after buying an additional 111,564 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Interface by 2.5% during the fourth quarter. LSV Asset Management now owns 843,629 shares of the textile maker’s stock worth $23,554,000 after buying an additional 20,300 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.
Interface Stock Up 0.9%
TILE stock opened at $34.43 on Tuesday. The firm has a market cap of $2.00 billion, a PE ratio of 13.94, a PEG ratio of 0.96 and a beta of 1.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53. The firm’s 50 day moving average price is $35.63 and its 200-day moving average price is $31.34. Interface, Inc. has a one year low of $24.40 and a one year high of $40.50.
Interface Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Interface’s dividend payout ratio is 4.86%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on TILE shares. Zacks Research upgraded Interface from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. Weiss Ratings upgraded Interface from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Wall Street Zen cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Barrington Research boosted their price target on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Finally, Benchmark began coverage on shares of Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $40.50.
Read Our Latest Stock Report on TILE
Insider Activity
In other news, VP David Foshee sold 28,451 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $35.99, for a total transaction of $1,023,951.49. Following the completion of the transaction, the vice president directly owned 146,563 shares in the company, valued at approximately $5,274,802.37. This represents a 16.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Laurel Hurd sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $39.09, for a total value of $273,630.00. Following the sale, the chief executive officer directly owned 506,978 shares of the company’s stock, valued at $19,817,770.02. The trade was a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 43,621 shares of company stock valued at $1,601,274 in the last quarter. Insiders own 2.47% of the company’s stock.
Interface Company Profile
Interface, Inc designs and manufactures modular flooring and interior solutions for commercial and residential spaces. Its product portfolio includes modular carpet tile, broadloom carpet, luxury vinyl tile, resilient flooring and rubber flooring, as well as acoustic products and related accessories. The company markets its offerings under brands that include Interface, FLOR and nora.
Interface serves customers in a range of industries, including corporate offices, hospitality, education, healthcare, retail and government.
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