Point72 DIFC Ltd Takes $106,000 Position in Interface, Inc. (NASDAQ:TILE)

Point72 DIFC Ltd bought a new stake in shares of Interface, Inc. (NASDAQ:TILE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,206 shares of the textile maker’s stock, valued at approximately $106,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Innealta Capital LLC bought a new stake in shares of Interface in the 2nd quarter worth approximately $32,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Interface in the 1st quarter worth about $57,000. GAMMA Investing LLC increased its holdings in shares of Interface by 131.1% in the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock worth $66,000 after acquiring an additional 2,237 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Interface in the 2nd quarter worth about $91,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Interface in the first quarter valued at approximately $110,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TILE. Barrington Research reissued an “outperform” rating and set a $22.00 target price on shares of Interface in a research note on Friday, September 20th. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

Insider Buying and Selling

In other news, Director Daniel T. Hendrix sold 2,153 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $14.67, for a total transaction of $31,584.51. Following the transaction, the director now owns 246,147 shares in the company, valued at approximately $3,610,976.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Bruce Andrew Hausmann sold 55,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total value of $935,000.00. Following the completion of the sale, the chief financial officer now directly owns 198,475 shares in the company, valued at $3,374,075. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel T. Hendrix sold 2,153 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $14.67, for a total transaction of $31,584.51. Following the sale, the director now directly owns 246,147 shares of the company’s stock, valued at $3,610,976.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,858 shares of company stock worth $2,091,604. Corporate insiders own 2.60% of the company’s stock.

Interface Stock Performance

Interface stock opened at $18.71 on Wednesday. Interface, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $19.45. The firm’s 50 day simple moving average is $17.85 and its 200-day simple moving average is $16.44. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.76 and a quick ratio of 1.45. The company has a market cap of $1.09 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 0.97 and a beta of 1.98.

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

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Friday, August 30th. Interface’s dividend payout ratio is currently 3.96%.

Interface Company 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.