New York State Teachers Retirement System cut its position in Interface Inc. (NASDAQ:TILE) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 159,786 shares of the company’s stock after selling 100 shares during the period. New York State Teachers Retirement System’s holdings in Interface were worth $2,437,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in TILE. Capstone Asset Management Co. raised its stake in Interface by 7.9% in the second quarter. Capstone Asset Management Co. now owns 23,996 shares of the company’s stock worth $366,000 after buying an additional 1,750 shares during the period. BNP Paribas Arbitrage SA raised its stake in Interface by 98.4% in the second quarter. BNP Paribas Arbitrage SA now owns 22,190 shares of the company’s stock worth $338,000 after buying an additional 11,006 shares during the period. Balter Liquid Alternatives LLC bought a new stake in Interface during the first quarter worth about $814,000. Royal Bank of Canada raised its stake in Interface by 2.2% in the first quarter. Royal Bank of Canada now owns 1,601,312 shares of the company’s stock worth $29,689,000 after buying an additional 34,612 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in Interface by 860.6% in the first quarter. Panagora Asset Management Inc. now owns 293,780 shares of the company’s stock worth $5,447,000 after buying an additional 263,196 shares during the period. Institutional investors own 94.00% of the company’s stock.
Shares of Interface Inc. (NASDAQ:TILE) traded down 0.30% during midday trading on Friday, reaching $16.50. The company’s stock had a trading volume of 480,695 shares. The stock’s 50-day moving average is $16.93 and its 200 day moving average is $16.90. The stock has a market capitalization of $1.07 billion, a P/E ratio of 15.07 and a beta of 1.21. Interface Inc. has a 12 month low of $13.70 and a 12 month high of $24.44.
Interface (NASDAQ:TILE) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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 business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. On average, analysts expect that Interface Inc. will post $1.15 earnings per share for the current fiscal year.
TILE has been the subject of a number of recent research reports. Zacks Investment Research lowered Interface from a “hold” rating to a “sell” rating in a research note on Thursday, June 16th. TheStreet upgraded Interface from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Finally, Raymond James Financial Inc. lowered Interface from a “market perform” rating to an “underperform” rating in a research note on Friday, June 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $20.25.
In related news, insider Raymond S. Willoch sold 23,007 shares of Interface stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $17.08, for a total transaction of $392,959.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel T. Hendrix sold 3,000 shares of Interface stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $16.40, for a total value of $49,200.00. 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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