Fmr LLC Purchases 55,345 Shares of Interface, Inc. (NASDAQ:TILE)

Fmr LLC raised its position in shares of Interface, Inc. (NASDAQ:TILE) by 138.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,215 shares of the textile maker’s stock after purchasing an additional 55,345 shares during the quarter. Fmr LLC’s holdings in Interface were worth $1,806,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TILE. Hennessy Advisors Inc. bought a new stake in shares of Interface during the 2nd quarter valued at about $7,430,000. American Century Companies Inc. grew its stake in shares of Interface by 22.3% during the 2nd quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after purchasing an additional 285,353 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Interface by 10.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock valued at $39,507,000 after purchasing an additional 247,350 shares during the period. Foundry Partners LLC bought a new position in shares of Interface during the 3rd quarter valued at approximately $4,308,000. Finally, Algert Global LLC bought a new position in shares of Interface during the 2nd quarter valued at approximately $1,828,000. 98.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barrington Research boosted their price objective on Interface from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th.

Insider Buying and Selling

In other news, Director Daniel T. Hendrix sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total transaction of $473,940.00. Following the sale, the director now directly owns 153,147 shares of the company’s stock, valued at $4,032,360.51. This represents a 10.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David B. Foshee sold 15,175 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total value of $398,647.25. Following the sale, the vice president now directly owns 202,398 shares in the company, valued at $5,316,995.46. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,175 shares of company stock valued at $2,119,987. Corporate insiders own 2.60% of the company’s stock.

Interface Trading Down 0.8 %

Shares of NASDAQ:TILE opened at $26.13 on Monday. The stock has a 50 day moving average of $22.99 and a 200 day moving average of $18.91. The company has a market cap of $1.52 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.29 and a beta of 2.09. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Interface, Inc. has a 12-month low of $11.48 and a 12-month high of $27.34.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company had revenue of $344.30 million for the quarter, compared to analysts’ expectations of $336.39 million. During the same period in the previous year, the firm earned $0.28 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts expect that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.01 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. Interface’s dividend payout ratio is presently 2.80%.

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.