Wellington Management Group LLP Has $33.64 Million Stake in Interface, Inc. (NASDAQ:TILE)

Wellington Management Group LLP lessened its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 22.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,773,182 shares of the textile maker’s stock after selling 517,262 shares during the period. Wellington Management Group LLP owned 3.04% of Interface worth $33,637,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in Interface during the 3rd quarter worth approximately $4,206,000. State Street Corp lifted its stake in Interface by 0.6% in the 3rd quarter. State Street Corp now owns 2,232,327 shares of the textile maker’s stock valued at $42,347,000 after purchasing an additional 13,686 shares during the last quarter. Quarry LP boosted its holdings in shares of Interface by 499.5% during the 3rd quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock worth $47,000 after buying an additional 2,063 shares during the period. Point72 DIFC Ltd boosted its position in shares of Interface by 28.3% in the third quarter. Point72 DIFC Ltd now owns 9,247 shares of the textile maker’s stock valued at $175,000 after acquiring an additional 2,041 shares during the period. Finally, HighTower Advisors LLC bought a new stake in shares of Interface during the 3rd quarter valued at $1,138,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

TILE has been the topic of a number of research reports. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barrington Research boosted their price target on shares of Interface from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday.

Interface Trading Down 0.3 %

Shares of TILE opened at $26.33 on Friday. Interface, Inc. has a twelve month low of $11.00 and a twelve month high of $27.34. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.54 billion, a PE ratio of 18.41, a P/E/G ratio of 1.29 and a beta of 2.09. The business’s 50-day moving average price is $22.83 and its 200-day moving average price is $18.82.

Interface (NASDAQ:TILE) last released its earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. The company had revenue of $344.30 million during the quarter, compared to analysts’ expectations of $336.39 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. On average, equities analysts forecast that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Friday, November 29th. Interface’s dividend payout ratio (DPR) is presently 2.80%.

Insider Buying and Selling

In other Interface news, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total value of $398,647.25. Following the sale, the vice president now owns 202,398 shares of the company’s stock, valued at $5,316,995.46. The trade was a 6.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total transaction of $482,400.00. Following the completion of the sale, the vice president now owns 144,355 shares in the company, valued at approximately $3,481,842.60. This trade represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,175 shares of company stock valued at $2,119,987 over the last 90 days. Company insiders own 2.60% of the company’s stock.

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.