Voya Investment Management LLC raised its position in shares of Interface, Inc. (NASDAQ:TILE) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,160 shares of the textile maker’s stock after purchasing an additional 2,658 shares during the period. Voya Investment Management LLC’s holdings in Interface were worth $593,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of TILE. KBC Group NV purchased a new stake in shares of Interface during the 2nd quarter worth about $133,000. Victory Capital Management Inc. raised its stake in shares of Interface by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,846 shares of the textile maker’s stock worth $154,000 after purchasing an additional 1,175 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of Interface by 34.6% during the 2nd quarter. Trust Co. of Vermont now owns 11,345 shares of the textile maker’s stock worth $223,000 after purchasing an additional 2,915 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Interface by 77.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,587 shares of the textile maker’s stock worth $247,000 after purchasing an additional 5,497 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in shares of Interface during the 2nd quarter worth about $273,000. 93.04% of the stock is owned by institutional investors.
Interface, Inc. (NASDAQ:TILE) opened at $22.75 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.51 and a quick ratio of 1.40. The stock has a market capitalization of $1,397.39, a P/E ratio of 19.91 and a beta of 1.32.
Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, October 25th. The textile maker reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. Interface had a return on equity of 21.39% and a net margin of 5.53%. The business had revenue of $257.43 million for the quarter, compared to the consensus estimate of $255.63 million. During the same period last year, the business earned $0.25 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. equities analysts predict that Interface, Inc. will post 1.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, November 9th. Interface’s payout ratio is 30.59%.
In related news, Director Christopher G. Kennedy sold 29,500 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $21.92, for a total value of $646,640.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel T. Hendrix sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $19.11, for a total value of $114,660.00. The disclosure for this sale can be found here. Insiders sold a total of 98,450 shares of company stock worth $2,132,927 over the last three months. 1.90% of the stock is owned by company insiders.
A number of brokerages recently weighed in on TILE. Nomura raised their price objective on Interface from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, October 27th. ValuEngine downgraded Interface from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and issued a $19.00 price objective on shares of Interface in a research note on Friday, July 28th. BidaskClub downgraded Interface from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research raised Interface from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Saturday, October 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $22.40.
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Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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