Los Angeles Capital Management LLC Reduces Position in Interface, Inc. (NASDAQ:TILE)

Los Angeles Capital Management LLC trimmed its stake in Interface, Inc. (NASDAQ:TILE) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,820 shares of the textile maker’s stock after selling 11,878 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.09% of Interface worth $1,237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TILE. GAMMA Investing LLC increased its stake in Interface by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 578 shares during the last quarter. Principal Securities Inc. increased its stake in shares of Interface by 103.1% during the 4th 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. Venturi Wealth Management LLC lifted its holdings in shares of Interface by 204.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock worth $27,000 after acquiring an additional 750 shares during the period. National Bank of Canada FI lifted its holdings in shares of Interface by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock worth $64,000 after acquiring an additional 856 shares during the period. Finally, KBC Group NV grew its holdings in Interface by 70.7% in the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 1,438 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Monday, February 24th. Barrington Research restated an “outperform” rating and set a $30.00 price target on shares of Interface in a research note on Tuesday, February 25th.

Interface Trading Up 3.2 %

Shares of TILE stock opened at $20.23 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. Interface, Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. The firm’s 50 day moving average price is $23.43 and its two-hundred day moving average price is $21.96. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.96 and a beta of 2.10.

Interface (NASDAQ:TILE) last posted its earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $335.00 million for the quarter, compared to analyst estimates of $340.51 million. During the same quarter in the previous year, the business posted $0.41 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts anticipate that Interface, Inc. will post 1.37 EPS for the current year.

Insider Activity

In related news, VP David B. Foshee sold 15,175 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total value of $398,647.25. Following the transaction, the vice president now owns 202,398 shares in the company, valued at approximately $5,316,995.46. The trade was a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel T. Hendrix sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total value of $297,250.00. Following the sale, the director now owns 103,647 shares of the company’s stock, valued at approximately $2,464,725.66. This trade represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,175 shares of company stock worth $1,471,087. 2.60% of the stock is currently owned by company insiders.

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.