BNP Paribas Arbitrage SA Acquires 10,992 Shares of Interface, Inc. (TILE)

BNP Paribas Arbitrage SA increased its position in shares of Interface, Inc. (NASDAQ:TILE) by 43.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,200 shares of the textile maker’s stock after acquiring an additional 10,992 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.06% of Interface worth $793,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TILE. Thrivent Financial For Lutherans boosted its stake in Interface by 2,392.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 914,291 shares of the textile maker’s stock worth $17,965,000 after acquiring an additional 877,611 shares during the last quarter. FMR LLC boosted its stake in Interface by 14.8% during the 2nd quarter. FMR LLC now owns 2,452,630 shares of the textile maker’s stock worth $48,194,000 after acquiring an additional 315,606 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in Interface by 5.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 3,120,601 shares of the textile maker’s stock worth $61,256,000 after acquiring an additional 157,800 shares during the last quarter. AHL Partners LLP boosted its stake in Interface by 96.2% during the 2nd quarter. AHL Partners LLP now owns 283,703 shares of the textile maker’s stock worth $5,575,000 after acquiring an additional 139,112 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Interface by 288.5% during the 2nd quarter. Nationwide Fund Advisors now owns 149,358 shares of the textile maker’s stock worth $2,935,000 after acquiring an additional 110,913 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

Interface, Inc. (TILE) opened at $24.90 on Monday. The company has a quick ratio of 1.40, a current ratio of 2.51 and a debt-to-equity ratio of 0.66. Interface, Inc. has a one year low of $16.80 and a one year high of $25.70. The firm has a market cap of $1,500.25, a P/E ratio of 21.84 and a beta of 1.34.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Wednesday, October 25th. The textile maker reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. Interface had a net margin of 5.53% and a return on equity of 21.39%. The firm had revenue of $257.43 million for the quarter, compared to analyst estimates of $255.63 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. equities research analysts expect that Interface, Inc. will post 1.15 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, November 9th. Interface’s payout ratio is currently 30.59%.

In other Interface news, Director Daniel T. Hendrix sold 5,000 shares of Interface stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $21.45, for a total value of $107,250.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Stansfield Nigel sold 8,450 shares of Interface stock in a transaction that occurred on Tuesday, September 5th. The shares were 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 ninety days, insiders sold 92,450 shares of company stock worth $2,018,267. Insiders own 1.90% of the company’s stock.

Several research firms recently weighed in on TILE. Zacks Investment Research raised shares of Interface from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Saturday, October 28th. Nomura lifted their price objective on shares of Interface from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $23.00 price objective on shares of Interface in a research note on Thursday, October 26th. 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’s stock. Interface currently has a consensus rating of “Hold” and an average target price of $23.50.

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Interface 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.

Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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