51,414 Shares in Interface, Inc. (TILE) Acquired by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Interface, Inc. (NASDAQ:TILE) during the third quarter, Holdings Channel reports. The fund bought 51,414 shares of the company’s stock, valued at approximately $858,000. Los Angeles Capital Management & Equity Research Inc. owned 0.08% of Interface at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in TILE. PineBridge Investments L.P. boosted its stake in Interface by 3.2% in the second quarter. PineBridge Investments L.P. now owns 8,303 shares of the company’s stock worth $127,000 after buying an additional 254 shares during the last quarter. First Mercantile Trust Co. boosted its stake in Interface by 69.5% in the third quarter. First Mercantile Trust Co. now owns 7,886 shares of the company’s stock worth $132,000 after buying an additional 3,234 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Interface by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,239 shares of the company’s stock worth $141,000 after buying an additional 1,118 shares during the last quarter. BlackRock Inc. boosted its stake in Interface by 116.0% in the third quarter. BlackRock Inc. now owns 9,761 shares of the company’s stock worth $163,000 after buying an additional 5,243 shares during the last quarter. Finally, Mason Street Advisors LLC bought a new stake in Interface during the second quarter worth $195,000. 91.31% of the stock is owned by hedge funds and other institutional investors.
Interface, Inc. (NASDAQ:TILE) traded up 3.55% during trading on Friday, reaching $18.95. The company had a trading volume of 297,472 shares. The firm has a market capitalization of $1.23 billion, a P/E ratio of 18.31 and a beta of 1.28. Interface, Inc. has a 52-week low of $13.70 and a 52-week high of $19.30. The company has a 50-day moving average of $18.22 and a 200-day moving average of $16.96.
Interface (NASDAQ:TILE) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.32 by $0.07. Interface had a net margin of 7.01% and a return on equity of 18.80%. The company had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $251.55 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. Analysts expect that Interface, Inc. will post $1.00 EPS for the current fiscal year.
A number of brokerages have recently issued reports on TILE. Seaport Global Securities began coverage on Interface in a research note on Friday, November 4th. They set a “buy” rating and a $18.00 target price for the company. Zacks Investment Research raised Interface from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 28th. Finally, Macquarie began coverage on Interface in a research note on Friday, December 16th. They set a “neutral” rating and a $17.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.20.
In other news, CEO Daniel T. Hendrix sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $18.75, for a total transaction of $56,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patrick C. Lynch sold 6,000 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $18.00, for a total transaction of $108,000.00. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Interface Inc is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors.
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