JPMorgan Chase & Co. increased its stake in shares of Interface Inc. (NASDAQ:TILE) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 332,228 shares of the company’s stock after buying an additional 8,025 shares during the period. JPMorgan Chase & Co. owned 0.51% of Interface worth $5,067,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Cambiar Investors LLC bought a new position in shares of Interface during the second quarter valued at $25,405,000. Emerald Acquisition Ltd. acquired a new stake in Interface during the second quarter valued at approximately $16,868,000. Wedge Capital Management L L P NC acquired a new stake in Interface during the second quarter valued at approximately $11,073,000. Deprince Race & Zollo Inc. increased its stake in Interface by 57.6% in the second quarter. Deprince Race & Zollo Inc. now owns 1,798,789 shares of the company’s stock valued at $27,432,000 after buying an additional 657,499 shares during the last quarter. Finally, Kennedy Capital Management Inc. acquired a new stake in Interface during the first quarter valued at approximately $11,898,000. Hedge funds and other institutional investors own 94.00% of the company’s stock.
Shares of Interface Inc. (NASDAQ:TILE) remained flat at $16.55 on Friday. The stock had a trading volume of 31,054 shares. Interface Inc. has a 52-week low of $13.70 and a 52-week high of $24.44. The firm has a market cap of $1.07 billion, a PE ratio of 15.11 and a beta of 1.21. The stock has a 50-day moving average price of $16.96 and a 200 day moving average price of $16.91.
Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The firm earned $248.20 million during the quarter, compared to analysts’ expectations of $256.99 million. Interface had a return on equity of 20.70% and a net margin of 7.40%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. Equities research analysts forecast that Interface Inc. will post $1.15 earnings per share for the current fiscal year.
Several equities research analysts recently commented on TILE shares. Zacks Investment Research downgraded Interface from a “hold” rating to a “sell” rating in a report on Thursday, June 16th. TheStreet upgraded Interface from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Finally, Raymond James Financial Inc. downgraded Interface from a “market perform” rating to an “underperform” rating in a report on Friday, June 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $20.25.
In related news, CEO Daniel T. Hendrix sold 3,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $17.83, for a total transaction of $53,490.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Raymond S. Willoch sold 23,007 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $17.08, for a total value of $392,959.56. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
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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