Prudential Financial Inc. Trims Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Prudential Financial Inc. trimmed its holdings in Interface, Inc. (NASDAQ:TILE) by 5.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 62,729 shares of the textile maker’s stock after selling 3,694 shares during the period. Prudential Financial Inc.’s holdings in Interface were worth $960,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Interface by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,225,309 shares of the textile maker’s stock worth $95,247,000 after purchasing an additional 185,733 shares during the period. State Street Corp increased its holdings in Interface by 4.8% during the 2nd quarter. State Street Corp now owns 1,981,592 shares of the textile maker’s stock worth $30,318,000 after purchasing an additional 91,463 shares during the period. Geode Capital Management LLC increased its holdings in Interface by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,006,139 shares of the textile maker’s stock worth $15,393,000 after purchasing an additional 22,602 shares during the period. Matthew 25 Management Corp increased its holdings in Interface by 7.2% during the 2nd quarter. Matthew 25 Management Corp now owns 912,500 shares of the textile maker’s stock worth $13,961,000 after purchasing an additional 61,500 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Interface by 2.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 815,794 shares of the textile maker’s stock worth $12,482,000 after purchasing an additional 18,723 shares during the period. Hedge funds and other institutional investors own 88.61% of the company’s stock.

Several research analysts have commented on TILE shares. Zacks Investment Research upgraded Interface from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, November 10th. Raymond James upgraded Interface from a “market perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a report on Monday, November 8th.

Shares of NASDAQ:TILE opened at $16.41 on Thursday. Interface, Inc. has a 12-month low of $8.10 and a 12-month high of $18.03. The business’s fifty day simple moving average is $15.42 and its 200-day simple moving average is $15.05. The company has a market capitalization of $969.09 million, a PE ratio of 18.23 and a beta of 1.87. The company has a current ratio of 2.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.51.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, November 5th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. Interface had a return on equity of 18.40% and a net margin of 4.66%. The business had revenue of $312.70 million for the quarter, compared to the consensus estimate of $315.20 million. During the same period last year, the business posted $0.28 EPS. The business’s revenue was up 12.2% compared to the same quarter last year. Research analysts predict that Interface, Inc. will post 1.08 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 17th. Stockholders of record on Friday, December 3rd will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. Interface’s dividend payout ratio is presently 4.44%.

About Interface

Interface, Inc is a flooring company, which offers carpet tile & resilient flooring, including luxury vinyl tile and rubber flooring products. The firm designs, manufactures and sells modular carpet, manufactured for the commercial and institutional markets under the interface brand, and for consumer markets as FLOR modular carpets.

Further Reading: What are Institutional Investors?

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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interface and related companies with MarketBeat.com's FREE daily email newsletter.