First Hawaiian Bank Cuts Position in Interface, Inc. (NASDAQ:TILE)

First Hawaiian Bank lessened its holdings in Interface, Inc. (NASDAQ:TILE) by 11.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 28,834 shares of the textile maker’s stock after selling 3,778 shares during the quarter. First Hawaiian Bank’s holdings in Interface were worth $702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TILE. GAMMA Investing LLC raised its holdings in shares of Interface by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,880 shares of the textile maker’s stock worth $94,000 after purchasing an additional 578 shares during the period. National Bank of Canada FI raised its holdings in shares of Interface by 33.7% in the 3rd quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock worth $64,000 after purchasing an additional 856 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Interface by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,103 shares of the textile maker’s stock worth $324,000 after purchasing an additional 1,368 shares during the period. KBC Group NV raised its holdings in shares of Interface by 70.7% in the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after purchasing an additional 1,438 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in shares of Interface by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock worth $2,188,000 after purchasing an additional 1,767 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Transactions at Interface

In other news, VP David B. Foshee sold 15,175 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total value of $398,647.25. Following the transaction, the vice president now owns 202,398 shares of the company’s stock, valued at approximately $5,316,995.46. This represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total transaction of $301,250.00. Following the completion of the transaction, the director now owns 116,147 shares of the company’s stock, valued at $2,799,142.70. This trade represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,675 shares of company stock valued at $2,421,237. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on TILE. Barrington Research boosted their target price on shares of Interface from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Interface Trading Down 2.5 %

Shares of TILE stock opened at $22.80 on Friday. The company’s fifty day simple moving average is $25.21 and its two-hundred day simple moving average is $20.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface, Inc. has a 1 year low of $11.48 and a 1 year high of $27.34. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.27 and a beta of 2.10.

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

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.18%. Interface’s payout ratio is currently 2.80%.

About Interface

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.