Harvest Fund Management Co. Ltd Acquires Shares of 4,967 Interface, Inc. (NASDAQ:TILE)

Harvest Fund Management Co. Ltd acquired a new stake in Interface, Inc. (NASDAQ:TILE) during the fourth quarter, HoldingsChannel reports. The fund acquired 4,967 shares of the textile maker’s stock, valued at approximately $122,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Interface by 0.6% in the 3rd quarter. State Street Corp now owns 2,232,327 shares of the textile maker’s stock valued at $42,347,000 after buying an additional 13,686 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Interface by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,371,976 shares of the textile maker’s stock worth $26,031,000 after purchasing an additional 11,931 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Interface by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 608,900 shares of the textile maker’s stock worth $14,827,000 after purchasing an additional 38,900 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Interface by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 315,596 shares of the textile maker’s stock worth $7,685,000 after purchasing an additional 11,546 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Interface by 688.5% during the 3rd quarter. Barclays PLC now owns 256,987 shares of the textile maker’s stock worth $4,873,000 after purchasing an additional 224,395 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Interface Stock Performance

NASDAQ:TILE opened at $19.74 on Friday. The stock’s 50-day simple moving average is $21.86 and its 200 day simple moving average is $22.06. The firm has a market capitalization of $1.15 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18. 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, Inc. has a twelve month low of $14.13 and a twelve month high of $27.34.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $335.00 million for the quarter, compared to analyst estimates of $340.51 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. Interface’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. On average, analysts anticipate that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

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

Wall Street Analysts Forecast Growth

TILE has been the topic of several analyst reports. Barrington Research reissued an “outperform” rating and set a $30.00 target price on shares of Interface in a report on Tuesday, February 25th. StockNews.com lowered Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th.

Insider Activity at Interface

In related news, Director Daniel T. Hendrix sold 12,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $23.78, for a total value of $297,250.00. Following the sale, the director now directly owns 103,647 shares of the company’s stock, valued at $2,464,725.66. This trade represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 32,500 shares of company stock valued at $748,125 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

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.