Zions Bancorporation Purchases New Holdings in Interface, Inc. (TILE)
Zions Bancorporation bought a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,408 shares of the textile maker’s stock, valued at approximately $118,000.
A number of other large investors have also bought and sold shares of TILE. KBC Group NV purchased a new position in Interface during the 2nd quarter valued at about $133,000. Victory Capital Management Inc. increased its holdings in Interface by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,846 shares of the textile maker’s stock valued at $154,000 after acquiring an additional 1,175 shares in the last quarter. Verition Fund Management LLC purchased a new position in Interface during the 2nd quarter valued at about $224,000. SG Americas Securities LLC purchased a new position in Interface during the 3rd quarter valued at about $247,000. Finally, BlueCrest Capital Management Ltd purchased a new position in Interface during the 2nd quarter valued at about $249,000. Hedge funds and other institutional investors own 93.20% of the company’s stock.
Several research firms have weighed in on TILE. BidaskClub downgraded shares of Interface from a “buy” rating to a “hold” rating in a report on Thursday. Nomura raised their target price on shares of Interface from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Interface from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Saturday, October 28th. Finally, Stifel Nicolaus restated a “hold” rating and set a $23.00 target price on shares of Interface in a report on Thursday, October 26th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $23.50.
In other news, Director Christopher G. Kennedy sold 29,500 shares of Interface stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $21.92, for a total transaction of $646,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel T. Hendrix sold 27,000 shares of Interface stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $22.95, for a total transaction of $619,650.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,000 shares of company stock valued at $1,735,820. Insiders own 1.90% of the company’s stock.
Shares of Interface, Inc. (NASDAQ TILE) opened at $23.95 on Friday. The company has a market cap of $1,458.07, a PE ratio of 21.23 and a beta of 1.35. Interface, Inc. has a twelve month low of $17.17 and a twelve month high of $25.70. The company has a current ratio of 2.51, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66.
Interface (NASDAQ:TILE) last issued its quarterly earnings results on Wednesday, October 25th. The textile maker reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $257.43 million during the quarter, compared to the consensus estimate of $255.63 million. Interface had a net margin of 5.53% and a return on equity of 21.39%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. research analysts predict that Interface, Inc. will post 1.15 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were issued a dividend of $0.065 per share. The ex-dividend date was Thursday, November 9th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.09%. Interface’s dividend payout ratio (DPR) is presently 30.59%.
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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.
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