Interface, Inc. (NASDAQ:TILE) Stake Cut by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 39.0% in the fourth quarter, HoldingsChannel reports. The fund owned 32,714 shares of the textile maker’s stock after selling 20,914 shares during the quarter. Russell Investments Group Ltd.’s holdings in Interface were worth $797,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its holdings in shares of Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock worth $27,000 after purchasing an additional 750 shares during the period. Huntington National Bank purchased a new stake in Interface in the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC boosted its stake in shares of Interface by 78.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after buying an additional 546 shares during the period. Principal Securities Inc. grew its holdings in shares of Interface by 103.1% during the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 741 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Interface by 163.5% in the fourth quarter. US Bancorp DE now owns 2,398 shares of the textile maker’s stock worth $58,000 after acquiring an additional 1,488 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Buying and Selling

In other news, Director Daniel T. Hendrix sold 7,500 shares of Interface stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $19.95, for a total value of $149,625.00. Following the transaction, the director now owns 96,147 shares of the company’s stock, valued at $1,918,132.65. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Interface Stock Performance

Shares of TILE opened at $18.17 on Wednesday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93. The company’s fifty day moving average is $19.58 and its 200-day moving average is $22.15. 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 12 month low of $14.13 and a 12 month high of $27.34.

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

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Friday, March 28th. Interface’s payout ratio is 2.72%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com cut Interface from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Barrington Research reiterated an “outperform” rating and set a $30.00 price target on shares of Interface in a report on Tuesday, April 15th.

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.