DekaBank Deutsche Girozentrale Makes New Investment in Interface, Inc. (NASDAQ:TILE)

DekaBank Deutsche Girozentrale acquired a new stake in Interface, Inc. (NASDAQ:TILE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,298 shares of the textile maker’s stock, valued at approximately $91,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Interface by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,298,736 shares of the textile maker’s stock worth $89,125,000 after purchasing an additional 43,184 shares during the period. Wellington Management Group LLP increased its holdings in Interface by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 2,508,961 shares of the textile maker’s stock valued at $31,663,000 after acquiring an additional 12,847 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Interface by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,275,194 shares of the textile maker’s stock worth $28,714,000 after purchasing an additional 165,536 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Interface by 22.3% during the 2nd quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after purchasing an additional 285,353 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Interface by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,118,347 shares of the textile maker’s stock valued at $14,114,000 after purchasing an additional 36,088 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Interface Trading Down 0.2 %

Shares of NASDAQ TILE opened at $18.97 on Friday. Interface, Inc. has a 1-year low of $8.26 and a 1-year high of $19.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.76 and a quick ratio of 1.45. The business’s 50 day moving average is $17.57 and its two-hundred day moving average is $16.27. The stock has a market capitalization of $1.10 billion, a P/E ratio of 18.78, a PEG ratio of 0.94 and a beta of 1.98.

Interface (NASDAQ:TILE) last released its earnings results on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. The firm had revenue of $346.60 million for the quarter, compared to the consensus estimate of $340.21 million. Interface had a return on equity of 18.42% and a net margin of 5.20%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, research analysts expect that Interface, Inc. will post 1.28 EPS for the current year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, August 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. Interface’s dividend payout ratio is presently 3.96%.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 10,347 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $14.43, for a total transaction of $149,307.21. Following the completion of the transaction, the director now owns 248,300 shares in the company, valued at $3,582,969. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Daniel T. Hendrix sold 10,347 shares of Interface stock in a transaction on Friday, July 5th. The stock was sold at an average price of $14.43, for a total transaction of $149,307.21. Following the completion of the sale, the director now directly owns 248,300 shares in the company, valued at $3,582,969. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel T. Hendrix sold 2,153 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $14.67, for a total transaction of $31,584.51. Following the completion of the transaction, the director now owns 246,147 shares in the company, valued at $3,610,976.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,858 shares of company stock worth $2,091,604. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

TILE has been the subject of a number of research reports. StockNews.com raised Interface from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th. Barrington Research reissued an “outperform” rating and issued a $22.00 target price on shares of Interface in a report on Friday.

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.