Isthmus Partners LLC Lowers Position in Interface, Inc. (NASDAQ:TILE)

Isthmus Partners LLC cut its stake in Interface, Inc. (NASDAQ:TILE) by 21.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 214,009 shares of the textile maker’s stock after selling 58,697 shares during the quarter. Isthmus Partners LLC’s holdings in Interface were worth $4,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Interface by 0.8% in the first 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Interface by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock worth $42,469,000 after purchasing an additional 31,224 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Interface by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after purchasing an additional 247,350 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Interface by 22.3% in the second quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock worth $22,951,000 after purchasing an additional 285,353 shares during the last quarter. Finally, Meros Investment Management LP raised its stake in shares of Interface by 1.5% in the second quarter. Meros Investment Management LP now owns 698,305 shares of the textile maker’s stock worth $10,251,000 after purchasing an additional 10,616 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Barrington Research increased their price target on Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

Insider Buying and Selling at Interface

In other news, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total value of $482,400.00. Following the completion of the transaction, the vice president now directly owns 144,355 shares of the company’s stock, valued at $3,481,842.60. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total value 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 disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Interface Price Performance

Shares of NASDAQ TILE opened at $26.52 on Friday. The stock has a fifty day simple moving average of $21.26 and a two-hundred day simple moving average of $18.08. Interface, Inc. has a 1-year low of $9.87 and a 1-year high of $27.34. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.29 and a beta of 1.97. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66.

Interface (NASDAQ:TILE) last announced its quarterly earnings data 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 return on equity of 19.91% and a net margin of 6.49%. The business had revenue of $344.30 million during the quarter, compared to analyst estimates of $336.39 million. During the same period in the prior year, the company earned $0.28 earnings per share. Interface’s revenue was up 10.7% compared to the same quarter last year. Analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Friday, November 29th. Interface’s dividend payout ratio (DPR) is 2.80%.

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.