Interface, Inc. (TILE) Shares Sold by Renaissance Technologies LLC
Renaissance Technologies LLC decreased its stake in shares of Interface, Inc. (NASDAQ:TILE) by 19.6% during the first quarter, Holdings Channel reports. The fund owned 170,606 shares of the textile maker’s stock after selling 41,494 shares during the period. Renaissance Technologies LLC’s holdings in Interface were worth $3,250,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Interface during the fourth quarter valued at approximately $15,890,000. Ariel Investments LLC raised its stake in shares of Interface by 59.0% in the first quarter. Ariel Investments LLC now owns 1,202,898 shares of the textile maker’s stock valued at $22,915,000 after buying an additional 446,541 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Interface by 18.8% in the first quarter. Frontier Capital Management Co. LLC now owns 2,749,905 shares of the textile maker’s stock valued at $52,386,000 after buying an additional 436,135 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Interface by 4.9% in the first quarter. Vanguard Group Inc. now owns 5,788,939 shares of the textile maker’s stock valued at $110,280,000 after buying an additional 271,658 shares during the last quarter. Finally, Nicholas Company Inc. raised its stake in shares of Interface by 367.2% in the first quarter. Nicholas Company Inc. now owns 238,660 shares of the textile maker’s stock valued at $4,546,000 after buying an additional 187,580 shares during the last quarter. Institutional investors own 92.23% of the company’s stock.
Shares of Interface, Inc. (NASDAQ:TILE) traded up 0.54% on Friday, reaching $18.75. The company’s stock had a trading volume of 431,170 shares. The company has a market cap of $1.18 billion, a P/E ratio of 24.13 and a beta of 1.20. Interface, Inc. has a 12-month low of $14.59 and a 12-month high of $21.05. The company’s 50 day moving average price is $19.15 and its 200 day moving average price is $19.11.
Interface (NASDAQ:TILE) last announced its quarterly earnings results on Wednesday, July 26th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Interface had a return on equity of 19.66% and a net margin of 5.21%. The company had revenue of $251.70 million for the quarter, compared to the consensus estimate of $254.94 million. During the same quarter in the previous year, the business earned $0.32 EPS. Interface’s revenue was up 1.4% compared to the same quarter last year. Analysts forecast that Interface, Inc. will post $1.14 EPS for the current fiscal year.
Interface announced that its Board of Directors has approved a share repurchase program on Wednesday, April 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the textile maker to purchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 1.39%. This is a boost from Interface’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, August 9th. Interface’s payout ratio is presently 33.33%.
TILE has been the topic of several research analyst reports. BidaskClub lowered Interface from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Zacks Investment Research lowered Interface from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Stifel Nicolaus upped their target price on Interface from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, ValuEngine upgraded Interface from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.00.
In other Interface news, Director Daniel T. Hendrix sold 5,000 shares of Interface stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $20.93, for a total transaction of $104,650.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert Coombs sold 12,000 shares of Interface stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $20.40, for a total value of $244,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,000 shares of company stock worth $681,940. Insiders own 1.90% of the company’s stock.
Interface Company Profile
Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
Want to see what other hedge funds are holding TILE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interface, Inc. (NASDAQ:TILE).
Receive News & Ratings for Interface Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interface Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.