Swiss National Bank boosted its position in Interface Inc. (NASDAQ:TILE) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 107,400 shares of the company’s stock after buying an additional 1,700 shares during the period. Swiss National Bank owned approximately 0.16% of Interface worth $1,638,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Interface by 23.1% in the first quarter. Renaissance Technologies LLC now owns 1,354,106 shares of the company’s stock worth $25,105,000 after buying an additional 253,900 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Interface by 188.2% in the first quarter. JPMorgan Chase & Co. now owns 324,203 shares of the company’s stock worth $6,011,000 after buying an additional 211,699 shares during the last quarter. Aperio Group LLC increased its stake in Interface by 29.3% in the first quarter. Aperio Group LLC now owns 31,763 shares of the company’s stock worth $589,000 after buying an additional 7,193 shares during the last quarter. Norges Bank purchased a new stake in Interface during the fourth quarter worth about $12,286,000. Finally, TIAA CREF Investment Management LLC increased its stake in Interface by 0.4% in the first quarter. TIAA CREF Investment Management LLC now owns 354,202 shares of the company’s stock worth $6,567,000 after buying an additional 1,274 shares during the last quarter. 94.00% of the stock is currently owned by institutional investors and hedge funds.
Interface Inc. (NASDAQ:TILE) traded up 0.43% during trading on Friday, hitting $16.43. The stock had a trading volume of 438,538 shares. Interface Inc. has a 12 month low of $13.70 and a 12 month high of $24.44. The company has a market cap of $1.06 billion, a PE ratio of 15.00 and a beta of 1.35. The company’s 50 day moving average is $17.08 and its 200-day moving average is $16.96.
Interface (NASDAQ:TILE) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $248.20 million for the quarter, compared to the consensus estimate of $256.99 million. Interface had a return on equity of 20.70% and a net margin of 7.40%. Interface’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. On average, equities research analysts predict that Interface Inc. will post $1.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.24 dividend on an annualized basis and a yield of 1.46%. This is an increase from Interface’s previous quarterly dividend of $0.05. Interface’s dividend payout ratio is currently 21.62%.
A number of analysts have issued reports on TILE shares. TheStreet raised Interface from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Raymond James Financial Inc. downgraded Interface from a “market perform” rating to an “underperform” rating in a research note on Friday, June 24th. Finally, Zacks Investment Research raised Interface from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $20.25.
In other Interface news, CEO Daniel T. Hendrix sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $17.70, for a total transaction of $53,100.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jay Gould purchased 10,000 shares of the stock in a transaction on Wednesday, June 29th. The shares were acquired at an average price of $14.76 per share, for a total transaction of $147,600.00. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.
Interface Company Profile
Interface Inc is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors.
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