Interface, Inc. (NASDAQ:TILE) Shares Acquired by US Bancorp DE

US Bancorp DE lifted its holdings in shares of Interface, Inc. (NASDAQ:TILE) by 163.5% during the 4th quarter, Holdings Channel reports. The firm owned 2,398 shares of the textile maker’s stock after buying an additional 1,488 shares during the period. US Bancorp DE’s holdings in Interface were worth $58,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. HighTower Advisors LLC acquired a new stake in shares of Interface during the third quarter worth about $1,138,000. Sanctuary Advisors LLC acquired a new stake in shares of Interface during the third quarter worth about $1,661,000. BNP Paribas Financial Markets raised its holdings in Interface by 13.3% in the third quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker’s stock valued at $561,000 after acquiring an additional 3,464 shares in the last quarter. FMR LLC raised its holdings in Interface by 138.8% in the third quarter. FMR LLC now owns 95,215 shares of the textile maker’s stock valued at $1,806,000 after acquiring an additional 55,345 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Interface by 103.2% in the fourth quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker’s stock valued at $1,595,000 after acquiring an additional 33,264 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TILE shares. StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Interface in a report on Tuesday, February 25th.

Insider Buying and Selling at Interface

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total value of $301,250.00. Following the transaction, the director now directly owns 116,147 shares in the company, valued at $2,799,142.70. This represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 32,500 shares of company stock worth $748,125 over the last three months. Insiders own 2.60% of the company’s stock.

Interface Stock Down 0.9 %

Shares of NASDAQ:TILE opened at $19.26 on Wednesday. The firm’s 50 day moving average price is $22.06 and its 200 day moving average price is $22.06. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 0.96 and a beta of 2.18. Interface, Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. 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 (NASDAQ:TILE) last announced its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The company had revenue of $335.00 million for the quarter, compared to analyst estimates of $340.51 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. As a group, equities research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.01 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.04 annualized dividend and a yield of 0.21%. Interface’s dividend payout ratio is currently 2.72%.

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.