Interface, Inc. (TILE) Stake Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. increased its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 430,386 shares of the textile maker’s stock after buying an additional 16,228 shares during the period. Schwab Charles Investment Management Inc. owned about 0.69% of Interface worth $8,458,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cigna Investments Inc. New purchased a new stake in Interface during the 2nd quarter worth approximately $287,000. Algert Global LLC purchased a new stake in Interface during the 2nd quarter worth approximately $428,000. Sei Investments Co. increased its stake in Interface by 30.4% during the 2nd quarter. Sei Investments Co. now owns 43,876 shares of the textile maker’s stock worth $862,000 after buying an additional 10,222 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in Interface during the 2nd quarter worth approximately $1,434,000. Finally, Peregrine Capital Management LLC increased its stake in Interface by 2.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 547,281 shares of the textile maker’s stock worth $10,754,000 after buying an additional 10,950 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Christopher G. Kennedy sold 29,500 shares of Interface stock in a transaction on Friday, September 29th. The shares were sold at an average price of $21.92, for a total value of $646,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stansfield Nigel sold 8,450 shares of Interface stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $19.26, for a total transaction of $162,747.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,450 shares of company stock valued at $1,496,237. Insiders own 1.90% of the company’s stock.
Several equities research analysts recently weighed in on TILE shares. BidaskClub downgraded shares of Interface from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. ValuEngine raised shares of Interface from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $19.00 target price on shares of Interface in a research note on Friday, July 28th. One equities research analyst has 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. Interface currently has a consensus rating of “Hold” and an average price target of $19.00.
Shares of Interface, Inc. (TILE) opened at 21.95 on Friday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 28.25 and a beta of 1.24. The firm has a 50 day moving average of $20.20 and a 200-day moving average of $19.56. Interface, Inc. has a 12 month low of $14.59 and a 12 month high of $22.60.
Interface (NASDAQ:TILE) last posted its earnings results on Wednesday, July 26th. The textile maker reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Interface had a net margin of 5.21% and a return on equity of 19.66%. The business had revenue of $251.70 million for the quarter, compared to analysts’ expectations of $254.94 million. During the same period in the previous year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts forecast that Interface, Inc. will post $1.14 earnings per share for the current year.
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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.
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