Jacobs Levy Equity Management Inc. Sells 155,221 Shares of Interface, Inc. (NASDAQ:TILE)

Jacobs Levy Equity Management Inc. cut its holdings in Interface, Inc. (NASDAQ:TILE) by 77.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 44,206 shares of the textile maker’s stock after selling 155,221 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Interface were worth $1,076,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in shares of Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 750 shares during the last quarter. Huntington National Bank bought a new position in shares of Interface during the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC raised its stake in shares of Interface by 78.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 546 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Interface by 103.1% during the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 741 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Interface by 163.5% during the fourth quarter. US Bancorp DE now owns 2,398 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 1,488 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Daniel T. Hendrix sold 7,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $19.95, for a total value of $149,625.00. Following the completion of the transaction, the director now directly owns 96,147 shares of the company’s stock, valued at $1,918,132.65. This represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TILE has been the subject of several recent analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Interface in a research note on Friday, May 2nd. StockNews.com raised shares of Interface from a “hold” rating to a “buy” rating in a research note on Saturday, May 10th.

Interface Price Performance

TILE stock opened at $20.53 on Friday. Interface, Inc. has a 1 year low of $14.13 and a 1 year high of $27.34. The company has a market cap of $1.20 billion, a P/E ratio of 14.36, a PEG ratio of 0.96 and a beta of 1.95. The firm has a 50-day moving average of $19.35 and a 200 day moving average of $22.24. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, May 2nd. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company had revenue of $297.41 million during the quarter, compared to the consensus estimate of $297.11 million. During the same period in the prior year, the firm earned $0.24 earnings per share. Interface’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Friday, May 30th. Interface’s payout ratio is currently 2.76%.

Interface Company Profile

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.