Nationwide Fund Advisors increased its position in shares of Interface, Inc. (NASDAQ:TILE) by 288.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 149,358 shares of the textile maker’s stock after purchasing an additional 110,913 shares during the quarter. Nationwide Fund Advisors owned approximately 0.24% of Interface worth $2,935,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Interface during the first quarter worth approximately $106,000. Victory Capital Management Inc. boosted its stake in Interface by 38.3% during the first quarter. Victory Capital Management Inc. now owns 6,671 shares of the textile maker’s stock worth $127,000 after buying an additional 1,849 shares during the last quarter. KBC Group NV acquired a new position in Interface during the second quarter worth $133,000. Trust Co. of Vermont boosted its stake in Interface by 34.6% during the second quarter. Trust Co. of Vermont now owns 11,345 shares of the textile maker’s stock worth $223,000 after buying an additional 2,915 shares during the last quarter. Finally, Sensato Investors LLC acquired a new position in Interface during the first quarter worth $240,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.
Interface, Inc. (NASDAQ TILE) opened at 21.95 on Thursday. The company’s 50-day moving average price is $20.56 and its 200 day moving average price is $19.67. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 28.25 and a beta of 1.24. Interface, Inc. has a 1-year low of $14.59 and a 1-year high of $22.60.
Interface (NASDAQ:TILE) last issued its earnings results on Wednesday, July 26th. The textile maker reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Interface had a return on equity of 19.66% and a net margin of 5.21%. The firm had revenue of $251.70 million for the quarter, compared to analysts’ expectations of $254.94 million. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities analysts expect that Interface, Inc. will post $1.14 earnings per share for the current fiscal year.
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A number of research firms have weighed in on TILE. BidaskClub lowered Interface from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. ValuEngine lowered Interface from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.00 price target 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 assigned a buy rating to the company. Interface presently has a consensus rating of “Hold” and an average price target of $19.00.
In related news, 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 value of $162,747.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel T. Hendrix sold 6,000 shares of Interface stock in a transaction on Monday, July 17th. The shares were sold at an average price of $18.95, for a total value of $113,700.00. The disclosure for this sale can be found here. Insiders sold 71,450 shares of company stock worth $1,496,237 in the last quarter. 1.90% of the stock is owned by insiders.
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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