Principal Securities Inc. Increases Holdings in Interface, Inc. (NASDAQ:TILE)

Principal Securities Inc. lifted its holdings in Interface, Inc. (NASDAQ:TILE) by 103.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,460 shares of the textile maker’s stock after acquiring an additional 741 shares during the period. Principal Securities Inc.’s holdings in Interface were worth $36,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TILE. State Street Corp lifted 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 worth $42,347,000 after purchasing an additional 13,686 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Interface by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,371,976 shares of the textile maker’s stock valued at $26,031,000 after buying an additional 11,931 shares during the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of Interface by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 608,900 shares of the textile maker’s stock worth $14,827,000 after buying an additional 38,900 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Interface by 0.8% during the third quarter. Segall Bryant & Hamill LLC now owns 325,250 shares of the textile maker’s stock worth $6,170,000 after acquiring an additional 2,423 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Interface by 5.8% during the third quarter. Principal Financial Group Inc. now owns 304,050 shares of the textile maker’s stock valued at $5,768,000 after acquiring an additional 16,624 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Trading Up 3.2 %

TILE stock opened at $20.23 on Friday. The firm has a fifty day moving average price of $23.43 and a 200 day moving average price of $21.92. Interface, Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. The firm has a market cap of $1.18 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.96 and a beta of 2.10. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57.

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

Insiders Place Their Bets

In other Interface news, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total transaction of $398,647.25. Following the completion of the transaction, the vice president now directly owns 202,398 shares of the company’s stock, valued at $5,316,995.46. The trade was a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel T. Hendrix sold 12,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total transaction of $301,250.00. Following the completion of the sale, the director now directly owns 116,147 shares in the company, valued at approximately $2,799,142.70. This represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,175 shares of company stock valued at $1,471,087 over the last ninety days. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on TILE. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Monday, February 24th. Barrington Research reissued an “outperform” rating and set a $30.00 price target on shares of Interface in a research note on Tuesday.

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.