PNC Financial Services Group Inc. lowered its stake in shares of Interface Inc. (NASDAQ:TILE) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,407 shares of the company’s stock after selling 16 shares during the period. PNC Financial Services Group Inc.’s holdings in Interface were worth $158,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised 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 valued at $25,105,000 after buying an additional 253,900 shares during the last quarter. Cambiar Investors LLC bought a new stake in Interface during the second quarter valued at $25,405,000. Deprince Race & Zollo Inc. raised 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. JPMorgan Chase & Co. raised its stake in Interface by 188.2% in the first quarter. JPMorgan Chase & Co. now owns 324,203 shares of the company’s stock valued at $6,011,000 after buying an additional 211,699 shares during the last quarter. Finally, Swiss National Bank raised its stake in Interface by 1.6% in the second quarter. Swiss National Bank now owns 107,400 shares of the company’s stock valued at $1,638,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 94.00% of the company’s stock.
Shares of Interface Inc. (NASDAQ:TILE) traded down 0.30% during trading on Friday, reaching $16.85. The company’s stock had a trading volume of 617,847 shares. Interface Inc. has a 1-year low of $13.70 and a 1-year high of $24.44. The company has a market capitalization of $1.09 billion, a PE ratio of 15.39 and a beta of 1.21. The stock has a 50 day moving average of $17.01 and a 200-day moving average of $16.93.
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 the Zacks’ consensus estimate of $0.29 by $0.03. The firm had revenue of $248.20 million for the quarter, compared to analyst estimates of $256.99 million. Interface had a return on equity of 20.70% and a net margin of 7.40%. The business’s revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. On average, analysts expect that Interface Inc. will post $1.15 earnings per share for the current year.
TILE has been the topic of several recent research reports. TheStreet upgraded Interface from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Zacks Investment Research downgraded Interface from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 29th. Finally, Raymond James Financial Inc. downgraded Interface from a “market perform” rating to an “underperform” rating in a research report on Friday, June 24th. Two 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 company currently has an average rating of “Hold” and an average target price of $20.25.
In related news, VP Stansfield Nigel sold 7,742 shares of Interface stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $17.72, for a total transaction of $137,188.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel T. Hendrix sold 3,000 shares of Interface stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
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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