Municipal Employees Retirement System of Michigan cut its stake in shares of Interface, Inc. (NASDAQ:TILE) by 20.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,160 shares of the textile maker’s stock after selling 3,960 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Interface were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Interface by 144,783.3% in the first quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock valued at $148,876,000 after buying an additional 7,809,612 shares during the last quarter. Ariel Investments LLC boosted 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 boosted 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. JHL Capital Group LLC bought a new stake in shares of Interface during the first quarter valued at about $7,620,000. Finally, Vanguard Group Inc. boosted 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. Institutional investors and hedge funds own 93.36% of the company’s stock.

Shares of Interface, Inc. (NASDAQ:TILE) opened at 18.90 on Thursday. The firm has a market capitalization of $1.16 billion, a PE ratio of 24.32 and a beta of 1.20. Interface, Inc. has a 1-year low of $14.59 and a 1-year high of $21.05. The firm has a 50-day moving average price of $18.96 and a 200-day moving average price of $19.18.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Wednesday, July 26th. The textile maker reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $251.70 million during the quarter, compared to the consensus estimate of $254.94 million. Interface had a net margin of 8.32% and a return on equity of 25.34%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. On average, analysts forecast that Interface, Inc. will post $1.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from Interface’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, August 9th. Interface’s dividend payout ratio (DPR) is presently 33.33%.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.watchlistnews.com/municipal-employees-retirement-system-of-michigan-has-298000-position-in-interface-inc-tile/1532923.html.

TILE has been the topic of several analyst reports. BidaskClub cut Interface from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. ValuEngine upgraded Interface from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $19.00 price target on shares of Interface in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.00.

In other news, VP Robert Coombs sold 12,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $20.40, for a total transaction of $244,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel T. Hendrix sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $19.11, for a total transaction of $114,660.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock valued at $696,250 over the last ninety days. 1.90% of the stock is owned by insiders.

About Interface

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).

Institutional Ownership by Quarter for Interface (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.