Public Sector Pension Investment Board Raises Stake in Interface, Inc. (NASDAQ:TILE)

Public Sector Pension Investment Board grew its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 6.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 128,099 shares of the textile maker’s stock after acquiring an additional 7,517 shares during the quarter. Public Sector Pension Investment Board’s holdings in Interface were worth $1,880,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TILE. Vanguard Group Inc. lifted its stake in shares of Interface by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,298,736 shares of the textile maker’s stock valued at $89,125,000 after acquiring an additional 43,184 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Interface by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock worth $42,469,000 after purchasing an additional 31,224 shares during the period. Dimensional Fund Advisors LP lifted its position in Interface by 10.1% in the second 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 last quarter. Wellington Management Group LLP boosted its stake in shares of Interface by 0.5% during the fourth quarter. Wellington Management Group LLP now owns 2,508,961 shares of the textile maker’s stock valued at $31,663,000 after purchasing an additional 12,847 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Interface by 22.3% in the second quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock worth $22,951,000 after purchasing an additional 285,353 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Interface Stock Performance

Shares of TILE stock opened at $18.97 on Tuesday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 0.97 and a beta of 1.98. The stock has a fifty day moving average of $17.78 and a 200 day moving average of $16.39. Interface, Inc. has a 52 week low of $8.26 and a 52 week high of $19.45. The company has a quick ratio of 1.45, a current ratio of 2.76 and a debt-to-equity ratio of 0.84.

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

Interface Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Barrington Research reissued an “outperform” rating and issued a $22.00 target price on shares of Interface in a research note on Friday, September 20th.

Insider Activity

In other Interface news, Director Daniel T. Hendrix sold 3,555 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total value of $62,319.15. Following the completion of the transaction, the director now owns 191,147 shares in the company, valued at $3,350,806.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Bruce Andrew Hausmann sold 55,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total transaction of $935,000.00. Following the sale, the chief financial officer now owns 198,475 shares of the company’s stock, valued at $3,374,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel T. Hendrix sold 3,555 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total transaction of $62,319.15. Following the transaction, the director now directly owns 191,147 shares of the company’s stock, valued at approximately $3,350,806.91. The disclosure for this sale can be found here. Insiders sold a total of 125,858 shares of company stock worth $2,091,604 in the last quarter. 2.60% of the stock is owned by company insiders.

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.