Raymond James Financial Inc. Invests $2.50 Million in Interface, Inc. (NASDAQ:TILE)

Raymond James Financial Inc. purchased a new stake in shares of Interface, Inc. (NASDAQ:TILE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 102,567 shares of the textile maker’s stock, valued at approximately $2,498,000.

A number of other institutional investors also recently bought and sold shares of TILE. Proficio Capital Partners LLC purchased a new stake in shares of Interface in the 4th quarter worth about $479,000. Cornerstone Investment Partners LLC bought a new position in shares of Interface during the fourth quarter valued at approximately $232,000. Smartleaf Asset Management LLC lifted its holdings in shares of Interface by 78.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 546 shares during the last quarter. US Bancorp DE boosted its position in shares of Interface by 163.5% in the 4th quarter. US Bancorp DE now owns 2,398 shares of the textile maker’s stock worth $58,000 after purchasing an additional 1,488 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new stake in shares of Interface in the 4th quarter worth approximately $215,000. 98.34% of the stock is owned by institutional investors.

Interface Trading Down 3.1 %

Shares of TILE stock opened at $19.75 on Friday. 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, Inc. has a 12-month low of $14.13 and a 12-month high of $27.34. The stock has a market capitalization of $1.15 billion, a P/E ratio of 13.81, a P/E/G ratio of 0.96 and a beta of 2.18. The firm’s 50 day moving average is $21.51 and its 200 day moving average is $22.14.

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

Interface Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TILE. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and set a $30.00 price target on shares of Interface in a research report on Tuesday, February 25th.

Insider Buying and Selling at Interface

In related news, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total transaction of $297,250.00. Following the transaction, the director now owns 103,647 shares in the company, valued at approximately $2,464,725.66. The trade was a 10.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 32,500 shares of company stock valued at $748,125. Company insiders own 2.60% of the company’s stock.

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.