Teacher Retirement System of Texas Sells 5,135 Shares of Interface, Inc. $TILE

Teacher Retirement System of Texas lowered its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 302,459 shares of the textile maker’s stock after selling 5,135 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.52% of Interface worth $6,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Interface by 56.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker’s stock valued at $291,000 after buying an additional 5,299 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Interface by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 323,731 shares of the textile maker’s stock valued at $6,423,000 after acquiring an additional 8,135 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Interface by 277.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 97,270 shares of the textile maker’s stock worth $1,930,000 after purchasing an additional 71,476 shares in the last quarter. New York State Common Retirement Fund lifted its position in Interface by 7.3% during the first quarter. New York State Common Retirement Fund now owns 16,184 shares of the textile maker’s stock valued at $321,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Interface by 62.1% during the first quarter. Victory Capital Management Inc. now owns 268,660 shares of the textile maker’s stock valued at $5,330,000 after purchasing an additional 102,903 shares during the period. Institutional investors own 98.34% of the company’s stock.

Interface Stock Up 0.4%

TILE opened at $26.67 on Friday. The company has a market capitalization of $1.56 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.04 and a beta of 2.07. The firm has a 50-day simple moving average of $27.76 and a two-hundred day simple moving average of $23.48. The company has a quick ratio of 1.59, a current ratio of 2.88 and a debt-to-equity ratio of 0.53. Interface, Inc. has a 52 week low of $17.24 and a 52 week high of $30.20.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.13. Interface had a return on equity of 18.97% and a net margin of 7.08%.The firm had revenue of $375.52 million for the quarter, compared to analysts’ expectations of $360.57 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were issued a $0.02 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.3%. Interface’s dividend payout ratio (DPR) is 4.94%.

Insider Buying and Selling

In related news, VP Stansfield Nigel sold 79,497 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $25.60, for a total transaction of $2,035,123.20. Following the sale, the vice president owned 65,125 shares of the company’s stock, valued at $1,667,200. This represents a 54.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of Interface stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $26.95, for a total transaction of $673,750.00. Following the completion of the transaction, the chief financial officer directly owned 145,403 shares of the company’s stock, valued at $3,918,610.85. The trade was a 14.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 109,497 shares of company stock worth $2,839,573. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TILE. Wall Street Zen cut Interface from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Barrington Research reaffirmed an “outperform” rating and set a $32.00 price target on shares of Interface in a report on Wednesday, October 15th. Finally, Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Interface 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.