Texas Permanent School Fund Corp Sells 6,358 Shares of Interface, Inc. (NASDAQ:TILE)

Texas Permanent School Fund Corp lessened its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,497 shares of the textile maker’s stock after selling 6,358 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of Interface worth $653,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hennessy Advisors Inc. bought a new position in Interface in the second quarter valued at approximately $7,430,000. Gendell Jeffrey L raised its holdings in shares of Interface by 1,041.8% during the first quarter. Gendell Jeffrey L now owns 250,363 shares of the textile maker’s stock worth $4,211,000 after acquiring an additional 228,435 shares during the period. Dimensional Fund Advisors LP lifted its position in Interface by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,275,194 shares of the textile maker’s stock valued at $28,714,000 after acquiring an additional 165,536 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Interface by 57.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 336,736 shares of the textile maker’s stock worth $5,664,000 after purchasing an additional 122,249 shares during the period. Finally, First Eagle Investment Management LLC acquired a new position in Interface in the 1st quarter worth $2,027,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th. Barrington Research reaffirmed an “outperform” rating and set a $22.00 price target on shares of Interface in a research note on Friday.

Insider Buying and Selling at Interface

In related news, CFO Bruce Andrew Hausmann sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total transaction of $935,000.00. Following the transaction, the chief financial officer now directly owns 198,475 shares of the company’s stock, valued at approximately $3,374,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Interface news, Director Daniel T. Hendrix sold 10,347 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $14.43, for a total transaction of $149,307.21. Following the completion of the sale, the director now directly owns 248,300 shares in the company, valued at $3,582,969. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bruce Andrew Hausmann sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total value of $935,000.00. Following the sale, the chief financial officer now owns 198,475 shares of the company’s stock, valued at approximately $3,374,075. The disclosure for this sale can be found here. Insiders have sold 125,858 shares of company stock worth $2,091,604 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Interface Stock Performance

TILE opened at $18.97 on Friday. The business’s 50-day simple moving average is $17.57 and its 200 day simple moving average is $16.27. Interface, Inc. has a 52-week low of $8.26 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.45 and a current ratio of 2.76. The firm has a market capitalization of $1.10 billion, a PE ratio of 18.78, a PEG ratio of 0.94 and a beta of 1.98.

Interface (NASDAQ:TILE) last released its earnings results on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. The business had revenue of $346.60 million during the quarter, compared to analysts’ expectations of $340.21 million. Interface had a net margin of 5.20% and a return on equity of 18.42%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. As a group, sell-side analysts expect that Interface, Inc. will post 1.28 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Friday, August 30th. Interface’s dividend payout ratio (DPR) is presently 3.96%.

Interface Profile

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.