Victory Capital Management Inc. Cuts Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Victory Capital Management Inc. trimmed its position in shares of Interface, Inc. (NASDAQ:TILE) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,128 shares of the textile maker’s stock after selling 8,492 shares during the quarter. Victory Capital Management Inc.’s holdings in Interface were worth $3,303,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TILE. SG Americas Securities LLC increased its holdings in Interface by 1,195.5% in the 2nd quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock worth $1,243,000 after acquiring an additional 78,113 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Interface in the 3rd quarter worth $790,000. Renaissance Technologies LLC increased its holdings in Interface by 11.0% in the 2nd quarter. Renaissance Technologies LLC now owns 345,400 shares of the textile maker’s stock worth $5,070,000 after acquiring an additional 34,200 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Interface by 46.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 176,617 shares of the textile maker’s stock worth $2,593,000 after acquiring an additional 56,093 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in Interface by 7.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 291,348 shares of the textile maker’s stock worth $4,277,000 after acquiring an additional 20,243 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Interface Price Performance

Interface stock opened at $25.46 on Friday. Interface, Inc. has a 52-week low of $9.87 and a 52-week high of $26.11. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.23 and a beta of 1.97. The company has a fifty day simple moving average of $20.64 and a 200-day simple moving average of $17.79. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66.

Interface (NASDAQ:TILE) last released its earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $344.30 million during the quarter, compared to analyst estimates of $336.39 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Friday, November 29th. Interface’s payout ratio is 2.80%.

Analyst Ratings Changes

Several equities research analysts recently commented on TILE shares. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barrington Research boosted their price target on shares of Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

Insider Activity

In other news, CFO Bruce Andrew Hausmann sold 30,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $25.50, for a total transaction of $765,000.00. Following the transaction, the chief financial officer now owns 168,475 shares of the company’s stock, valued at approximately $4,296,112.50. The trade was a 15.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total transaction of $482,400.00. Following the transaction, the vice president now directly owns 144,355 shares in the company, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

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.