Interface, Inc. (TILE) Holdings Boosted by Comerica Bank

Comerica Bank raised its stake in shares of Interface, Inc. (NASDAQ:TILE) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,419 shares of the textile maker’s stock after purchasing an additional 17,094 shares during the period. Comerica Bank owned 0.48% of Interface worth $6,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in Interface by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 2,143,358 shares of the textile maker’s stock valued at $46,939,000 after purchasing an additional 31,189 shares in the last quarter. Rhumbline Advisers lifted its holdings in Interface by 1.7% during the third quarter. Rhumbline Advisers now owns 143,899 shares of the textile maker’s stock valued at $3,151,000 after purchasing an additional 2,455 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Interface by 39.0% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 48,211 shares of the textile maker’s stock valued at $1,056,000 after purchasing an additional 13,530 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Interface by 55.5% during the third quarter. Municipal Employees Retirement System of Michigan now owns 23,570 shares of the textile maker’s stock valued at $516,000 after purchasing an additional 8,410 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in Interface by 43.6% during the third quarter. BNP Paribas Arbitrage SA now owns 36,200 shares of the textile maker’s stock valued at $793,000 after purchasing an additional 10,992 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Interface from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Saturday, October 28th. Nomura raised their price target on shares of Interface from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Stifel Nicolaus reissued a “hold” rating and issued a $23.00 price target on shares of Interface in a research note on Thursday, October 26th. ValuEngine downgraded shares of Interface from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub downgraded shares of Interface from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $23.50.

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Interface, Inc. (TILE) opened at $24.30 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.51 and a quick ratio of 1.40. The firm has a market cap of $1,464.10, a PE ratio of 21.32 and a beta of 1.32. Interface, Inc. has a 52 week low of $16.80 and a 52 week high of $24.40.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Wednesday, October 25th. The textile maker reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $257.43 million for the quarter, compared to the consensus estimate of $255.63 million. Interface had a net margin of 5.53% and a return on equity of 21.39%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. research analysts anticipate that Interface, Inc. will post 1.15 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, November 9th. Interface’s dividend payout ratio is currently 30.59%.

In related news, Director Daniel T. Hendrix sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $21.79, for a total transaction of $130,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel T. Hendrix sold 27,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $22.95, for a total transaction of $619,650.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,450 shares of company stock worth $2,018,267. Insiders own 1.90% of the company’s stock.

About Interface

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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Institutional Ownership by Quarter for Interface (NASDAQ:TILE)

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