Hillsdale Investment Management Inc. Boosts Stake in Interface, Inc. (NASDAQ:TILE)

Hillsdale Investment Management Inc. lifted its holdings in Interface, Inc. (NASDAQ:TILE) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,313 shares of the textile maker’s stock after buying an additional 900 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.37% of Interface worth $5,267,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC purchased a new position in shares of Interface in the third quarter worth about $1,138,000. Sanctuary Advisors LLC purchased a new position in shares of Interface in the third quarter worth about $1,661,000. BNP Paribas Financial Markets lifted its stake in shares of Interface by 13.3% in the third quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker’s stock worth $561,000 after buying an additional 3,464 shares in the last quarter. FMR LLC increased its position in Interface by 138.8% during the third quarter. FMR LLC now owns 95,215 shares of the textile maker’s stock worth $1,806,000 after purchasing an additional 55,345 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Interface by 103.2% during the fourth quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker’s stock worth $1,595,000 after purchasing an additional 33,264 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total value of $297,250.00. Following the completion of the transaction, the director now owns 103,647 shares in the company, valued at $2,464,725.66. The trade was a 10.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 32,500 shares of company stock valued at $748,125. 2.60% of the stock is currently owned by company insiders.

Interface Price Performance

Shares of TILE opened at $19.74 on Friday. Interface, Inc. has a 1-year low of $14.13 and a 1-year high of $27.34. The stock has a market cap of $1.15 billion, a PE ratio of 13.80, a P/E/G ratio of 0.96 and a beta of 2.18. The firm has a 50-day simple moving average of $21.86 and a two-hundred day simple moving average of $22.04. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $340.51 million. During the same period last year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts forecast that Interface, Inc. will post 1.37 EPS for the current year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Friday, March 28th. Interface’s payout ratio is 2.72%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TILE shares. Barrington Research restated an “outperform” rating and set a $30.00 price objective on shares of Interface in a research report on Tuesday, February 25th. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th.

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.