TIAA CREF Investment Management LLC decreased its position in Interface, Inc. (NASDAQ:TILE) by 12.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,134 shares of the textile maker’s stock after selling 50,195 shares during the quarter. TIAA CREF Investment Management LLC owned 0.57% of Interface worth $6,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in TILE. Ameritas Investment Partners Inc. bought a new stake in Interface in the 1st quarter worth approximately $106,000. Victory Capital Management Inc. lifted its position in Interface by 38.3% in the 1st quarter. Victory Capital Management Inc. now owns 6,671 shares of the textile maker’s stock worth $127,000 after buying an additional 1,849 shares during the last quarter. KBC Group NV bought a new stake in Interface in the 2nd quarter worth approximately $133,000. Trust Co. of Vermont lifted its position in Interface by 34.6% in the 2nd quarter. Trust Co. of Vermont now owns 11,345 shares of the textile maker’s stock worth $223,000 after buying an additional 2,915 shares during the last quarter. Finally, Sensato Investors LLC bought a new stake in Interface in the 1st quarter worth approximately $240,000. Institutional investors own 93.21% of the company’s stock.
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A number of analysts recently weighed in on the company. ValuEngine downgraded Interface from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and issued a $19.00 target price on shares of Interface in a research report on Friday, July 28th. Finally, BidaskClub downgraded Interface from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $19.00.
Shares of Interface, Inc. (NASDAQ:TILE) opened at 21.95 on Thursday. Interface, Inc. has a 52-week low of $14.59 and a 52-week high of $22.60. The company has a 50-day moving average price of $20.56 and a 200-day moving average price of $19.67. The company has a market cap of $1.35 billion, a P/E ratio of 28.25 and a beta of 1.24.
Interface (NASDAQ:TILE) last released its quarterly earnings results on Wednesday, July 26th. The textile maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $251.70 million during the quarter, compared to analysts’ expectations of $254.94 million. Interface had a return on equity of 19.66% and a net margin of 5.21%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. On average, equities analysts predict that Interface, Inc. will post $1.14 EPS for the current year.
In other news, Director Daniel T. Hendrix sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $19.11, for a total value of $114,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher G. Kennedy sold 29,500 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $21.92, for a total value of $646,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 71,450 shares of company stock valued at $1,496,237 in the last 90 days. 1.90% of the stock is currently owned by company insiders.
Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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