Nicholas Hoffman & Company LLC. Grows Stake in Interface, Inc. (NASDAQ:TILE)

Nicholas Hoffman & Company LLC. lifted its stake in shares of Interface, Inc. (NASDAQ:TILE) by 50.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the textile maker’s stock after purchasing an additional 5,000 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Interface were worth $113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Alberta Investment Management Corp increased its stake in shares of Interface by 60.9% during the first quarter. Alberta Investment Management Corp now owns 61,300 shares of the textile maker’s stock worth $463,000 after purchasing an additional 23,200 shares in the last quarter. Aigen Investment Management LP acquired a new position in Interface in the 1st quarter valued at about $35,000. Trillium Asset Management LLC boosted its holdings in Interface by 0.6% in the 1st quarter. Trillium Asset Management LLC now owns 396,967 shares of the textile maker’s stock valued at $3,001,000 after purchasing an additional 2,526 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Interface by 1.2% in the 1st quarter. Russell Investments Group Ltd. now owns 403,497 shares of the textile maker’s stock valued at $3,049,000 after purchasing an additional 4,843 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Interface by 32.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,471,758 shares of the textile maker’s stock valued at $11,126,000 after purchasing an additional 360,811 shares during the last quarter. 89.50% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have weighed in on TILE shares. BidaskClub upgraded shares of Interface from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Zacks Investment Research lowered shares of Interface from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. ValuEngine lowered shares of Interface from a “sell” rating to a “strong sell” rating in a report on Thursday, April 2nd. Nomura upped their price objective on shares of Interface from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Nomura Securities upped their price objective on shares of Interface from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $15.17.

Interface stock traded down $0.01 during mid-day trading on Friday, reaching $8.20. 186,990 shares of the company’s stock were exchanged, compared to its average volume of 480,840. The company has a market cap of $480.10 million, a P/E ratio of 4.66 and a beta of 1.84. Interface, Inc. has a twelve month low of $5.06 and a twelve month high of $17.67. The company has a quick ratio of 1.14, a current ratio of 2.32 and a debt-to-equity ratio of 2.87. The company has a fifty day moving average of $8.39 and a 200-day moving average of $13.53.

Interface (NASDAQ:TILE) last released its earnings results on Friday, May 8th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.12. The company had revenue of $288.20 million for the quarter, compared to analyst estimates of $298.13 million. Interface had a negative net margin of 2.25% and a positive return on equity of 31.53%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. Equities research analysts expect that Interface, Inc. will post 0.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.49%. Interface’s dividend payout ratio (DPR) is presently 16.35%.

Interface Profile

Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.

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Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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