UBS Asset Management Americas Inc. grew its position in shares of Interface, Inc. (NASDAQ:TILE) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,185 shares of the textile maker’s stock after buying an additional 1,880 shares during the period. UBS Asset Management Americas Inc.’s holdings in Interface were worth $436,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. increased its position in Interface by 144,783.3% during the 1st quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock worth $148,876,000 after buying an additional 7,809,612 shares during the period. Vanguard Group Inc. increased its position in Interface by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 5,788,939 shares of the textile maker’s stock worth $110,280,000 after buying an additional 271,658 shares during the period. Frontier Capital Management Co. LLC increased its position in Interface by 1.2% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,783,501 shares of the textile maker’s stock worth $54,696,000 after buying an additional 33,596 shares during the period. Dimensional Fund Advisors LP increased its position in Interface by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,439,985 shares of the textile maker’s stock worth $46,481,000 after buying an additional 94,970 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Interface by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,112,169 shares of the textile maker’s stock worth $41,504,000 after buying an additional 36,699 shares during the period. Hedge funds and other institutional investors own 93.04% of the company’s stock.
Shares of Interface, Inc. (TILE) opened at 23.25 on Monday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 29.92 and a beta of 1.24. Interface, Inc. has a 12-month low of $14.88 and a 12-month high of $23.85. The stock’s 50 day moving average price is $21.53 and its 200 day moving average price is $19.96.
Interface (NASDAQ:TILE) last released its quarterly earnings data on Wednesday, October 25th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Interface had a return on equity of 21.39% and a net margin of 5.53%. The company had revenue of $257.43 million for the quarter, compared to analyst estimates of $255.63 million. During the same period in the previous year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts expect that Interface, Inc. will post $1.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be paid a dividend of $0.065 per share. The ex-dividend date is Thursday, November 9th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.12%. Interface’s payout ratio is 30.59%.
TILE has been the topic of several recent research reports. ValuEngine upgraded Interface from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded Interface from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Saturday. BidaskClub cut Interface from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price objective on shares of Interface in a research report on Thursday. Finally, Nomura increased their price objective on Interface from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Interface has a consensus rating of “Hold” and an average target price of $22.40.
In other Interface news, VP Stansfield Nigel sold 8,450 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. Also, Director Christopher G. Kennedy sold 29,500 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $21.92, for a total value of $646,640.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,450 shares of company stock worth $1,513,277. 1.90% of the stock is currently owned by corporate insiders.
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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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