GAMMA Investing LLC Grows Stock Position in Interface, Inc. (NASDAQ:TILE)

GAMMA Investing LLC boosted its stake in Interface, Inc. (NASDAQ:TILE) by 17.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,880 shares of the textile maker’s stock after purchasing an additional 578 shares during the period. GAMMA Investing LLC’s holdings in Interface were worth $94,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Interface by 22.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 129,264 shares of the textile maker’s stock valued at $2,452,000 after purchasing an additional 23,447 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Interface by 5.8% in the 3rd quarter. Principal Financial Group Inc. now owns 304,050 shares of the textile maker’s stock valued at $5,768,000 after purchasing an additional 16,624 shares during the last quarter. Franklin Resources Inc. increased its holdings in Interface by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 89,576 shares of the textile maker’s stock valued at $1,735,000 after purchasing an additional 3,202 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Interface in the 3rd quarter valued at approximately $1,661,000. Finally, Geode Capital Management LLC increased its holdings in Interface by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,371,976 shares of the textile maker’s stock valued at $26,031,000 after purchasing an additional 11,931 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Activity at Interface

In other news, VP David B. Foshee sold 15,175 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total value of $398,647.25. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the company’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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 95,675 shares of company stock valued at $2,421,237 over the last ninety days. Insiders own 2.60% of the company’s stock.

Interface Stock Performance

Shares of TILE stock opened at $22.80 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $25.21 and a 200 day moving average price of $20.19. The company has a market cap of $1.33 billion, a P/E ratio of 15.94, a PEG ratio of 1.27 and a beta of 2.10. Interface, Inc. has a 12 month low of $11.48 and a 12 month high of $27.34.

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 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 firm had revenue of $344.30 million during the quarter, compared to analysts’ expectations of $336.39 million. During the same period in the previous year, the company earned $0.28 earnings per share. Interface’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.01 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. Interface’s dividend payout ratio (DPR) is presently 2.80%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TILE shares. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barrington Research lifted 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.

Interface 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.