Franklin Resources Inc. Has $1.74 Million Stock Holdings in Interface, Inc. (NASDAQ:TILE)

Franklin Resources Inc. increased its position in shares of Interface, Inc. (NASDAQ:TILE) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,576 shares of the textile maker’s stock after acquiring an additional 3,202 shares during the period. Franklin Resources Inc. owned about 0.15% of Interface worth $1,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. National Bank of Canada FI boosted its position in Interface by 33.7% in the third quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock valued at $64,000 after buying an additional 856 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Interface by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 22,103 shares of the textile maker’s stock valued at $324,000 after acquiring an additional 1,368 shares during the last quarter. KBC Group NV raised its stake in shares of Interface by 70.7% during the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock valued at $66,000 after acquiring an additional 1,438 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Interface by 1.6% during the third quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock valued at $2,188,000 after acquiring an additional 1,767 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Interface by 13.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock valued at $218,000 after acquiring an additional 1,770 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Buying and Selling at Interface

In other news, CFO Bruce Andrew Hausmann sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total transaction of $765,000.00. Following the completion of the transaction, the chief financial officer now directly owns 168,475 shares of the company’s stock, valued at $4,296,112.50. The trade was a 15.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 shares were sold at an average price of $26.27, for a total transaction of $398,647.25. Following the sale, the vice president now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 83,175 shares of company stock worth $2,119,987. 2.60% of the stock is owned by corporate insiders.

Interface Price Performance

Shares of Interface stock opened at $24.97 on Friday. Interface, Inc. has a 52-week low of $11.48 and a 52-week high of $27.34. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.29 and a beta of 2.09. The company has a fifty day moving average of $24.19 and a 200-day moving average of $19.56. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $336.39 million. During the same quarter in the prior year, the company posted $0.28 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts expect that Interface, Inc. will post 1.37 EPS for the current year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.16%. Interface’s dividend payout ratio is currently 2.80%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TILE shares. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Barrington Research lifted their target price on shares of Interface from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th.

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.